Author: Edwina Lister, Director - Risk Management, Moody's
The sixth and final 'inject' of the Bank of England Prudential Regulation Authority (PRA) 2026 Dynamic General Insurance Stress Test (DyGIST) exercise arrived yesterday (May 21, 2026), with a closing update to the 'Manufacturing Downtime' scenario.
Moody's has responded with our final modeling guidance. With that, the scenario updates are officially complete, and no further updates are expected from the PRA.
Since the launch of the DyGIST on May 5, maybe now is the time to take stock of a busy three weeks.
The DyGIST was based around five diverse scenarios—a North Atlantic hurricane, a Pacific Northwest earthquake, a U.K. windstorm, a supply chain cyberattack, and a global market downturn.
Our Moody's RMS™ Event Response teams have been working flat out to deliver event selections, calibrations, and guidance to clients as quickly and thoroughly as the information allowed.
Each 'inject' delivered by the PRA during the DyGIST exercise brought new details, new questions, and new challenges, and we are genuinely proud of the response from all our event response, model development, and client-facing teams, pulled together under real-time pressure.
Five DyGIST scenarios
For those keeping track, here's how the five scenarios concluded:
- Market downturn: Scenario completed in Inject 3, with a full market stress calibration released to Moody's Scenario Generator clients.
- Manufacturing downtime (Cyber): The final update arrived yesterday, on May 21, with the Moody's response now complete.
- Pacific Northwest earthquake: Completed early, aligned to the Lloyd's Realistic Disaster Scenarios (RDS), with modeling guidance issued accordingly.
- Hurricane Taurus: Pre- and post-landfall stochastic event selections delivered, with a final set of 10 events calibrated to the reported industry loss and footprint.
- Windstorm Nevis: Wind-only stochastic event selections released for both the Moody's RMS European Windstorm Models (including the U.K.) and Detailed Loss Models (DLM) following post-landfall information.
All final deliverables are available to licensing clients on the Moody's Support Center here.
For clients continuing to populate the final reporting template, due for submission on July 31, 2026, if you have questions, please reach out to your Moody's support representative or email us here.
What can we learn to prepare for future stress test exercises?
The DyGIST was designed to test the market's resilience and readiness—and we hope our clients feel that Moody's rose to that challenge alongside them. This exercise has been a valuable experience for our teams too, and we are already thinking about what we can learn from it to be even better prepared for whatever comes next.
If you were part of the DyGIST cohort, we would love to hear your feedback on our response.
Whether it's what worked well, what could be improved, or if you have ideas on how Moody's can support you in future exercises, please do reach out to your account representative.