Overall, the Food Directorate's comprehensive review of the available science of TiO₂ as a food additive showed:

In summary, the Food Directorate's position is that there is no conclusive scientific evidence that the food additive TiO₂ is a concern for human health. This is based on a review of the available scientific data relevant to food uses of TiO₂. However, we will continue to monitor the emerging science on the safety of TiO₂ as a food additive and may revisit our position if new scientific information becomes available.

All in all, Titanium Dioxide is a famous sunscreen agent and for good reason, it gives broad spectrum UV protection (best at UVB and UVA II), it's highly stable, and it has a good safety profile. It's definitely one of the best UV-filter agents we have today, especially in the US where new-generation Tinosorb filters are not (yet) approved. 

The ingredient in question? Titanium dioxide.