London, 14 January 2026 – At the annual Biba Manifesto launch held at the House of Parliament, Lisa Sturley, Head of the Insurance Division at the UK’s Financial Conduct Authority (FCA), unveiled a forward-looking strategy for the insurance sector. Emphasising both collaboration and transformation, Sturley stated,
“It is time to connect, time to engage, time to support – and I want to add one more: it is time to evolve.”
Sturley explained that the FCA is moving towards becoming a “smart regulator”, focusing on clarity, efficiency, and proportionality. “We aim to modernise our supervisory approach, making it more structured and purposeful,” she said. “Through our annual market reports, priorities will be clearer, unexpected correspondence will be reduced, and targeted engagement with firms will increase. This ensures supportive, effective regulation across the sector.”
At the event, Biba also presented several key calls to action that have shaped this year’s manifesto:
| Area of Focus | Description |
|---|---|
| Regulatory Simplification | Ongoing efforts to streamline insurance regulations. |
| Reporting Requirements | Making reporting and compliance obligations more concise and straightforward. |
| Broker Support | Providing tools and guidance to enhance broker efficiency. |
| Member Feedback | Gathering input from members nationwide to inform policy decisions. |
Reflecting on the theme of Biba’s 2026 conference, “Time To”, Sturley added,
“This is not just a time to connect or to provide support – it is a time for change.”
She also highlighted that the FCA’s focus for the year is on modernising regulatory oversight to ensure it remains relevant and proportionate, ultimately enhancing market credibility and strengthening the insurance sector.
The discussions and nationwide member consultations conducted by Biba emphasised a clear priority: enhancing broker capabilities. As a result, FCA and Biba are working closely together to foster a more innovative, effective, and coordinated industry.
The 2026 partnership goals of FCA and Biba are summarised as follows:
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Simplifying regulations – reducing unnecessary complexity in the insurance framework.
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Optimising operational effectiveness – improving performance of brokers and insurers.
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Establishing a resilient, modern supervisory structure – creating a sustainable and trustworthy regulatory environment.
With the FCA’s new strategic vision and Biba’s proactive initiatives, the UK insurance sector is set to become more innovative, accountable, and stable in 2026, paving the way for meaningful reform and stronger industry confidence.