Insurance Regulatory Authority Uk. The insurance regulatory authority is a statutory government agency established under the insurance act (amendment) 2006, cap 487 of the laws of kenya to regulate, supervise and develop the insurance industry. In total the prudential regulation authority (pra) regulates around 1,700 financial firms.
In total the pra regulates approximately 1,500 financial institutions. Other states soon followed suit. Regulators exercise regulatory or supervisory authority over a variety of endeavours.