BMA Announces a Reduction in Regulatory Burden for Insurers

The BMA released a Notice on 19 February 2026 announcing that it plans on reducing the regulatory burden for insurers while strengthening the efficiency and proportionality of insurance supervision. The BMA defined regulatory burden to mean removing unnecessary cost, duplication, administrative friction and inefficient processes, particularly in relation to reporting, filings and supervisory interactions. The aim is to remove processes that do not improve supervisory insight or policyholder outcomes.

The BMA emphasized that this is not a reduction in prudential standards, capital requirements or supervisory effectiveness. Rather the aim is to reduce low-value administrative activity. The BMA noted that regulatory burden can increase operational costs and strain governance and compliance resources. 

The BMA noted that over time evolving regulatory requirements has led to duplication of information across multiple returns, schedules and documents. The BMA plans to apply the principle of “collect once, reuse many times”. Streamlining reporting and filings will help to reduce this overlap. 

The BMA is in early stages of implementing this goal. Stakeholders are encouraged to submit suggestions on which aspects will benefit from simplification, consolidation and easier compliance. Once practical issues are identified, the BMA will introduce changes through pilots and phased implementation. 

In parallel to this initiative, the BMA will rely on increased use of the secure electronic portal, INTEGRA, for submissions. This will enable  insurers to track progress through the review process and receive outcomes through a single workflow. The BMA will register insurers that are not yet on the platform in the coming weeks.

Overall, this is welcome news for the insurance industry. Please contact us if you would like assistance with submitting any feedback to the BMA.