In January, the PRA launched the second and final request for technical input for the Insurance Stress Test (IST 2022). The Life Insurance Stress Test (LIST 2022) is due to be launched in May of this year, with responses required to be submitted by September. Firms who completed the LIST 2019 will be familiar with the purpose of the LIST, however there are several areas of difference in the LIST 2022 which are covered in the paper. We explain the structure of the LIST 2022 and compare to LIST 2019. We also cover a range of key considerations and potential challenges for firms, and we have included a deep dive into the requirements around management actions, which need to be categorised by time horizon.