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Home > Prudential Regulation Authority > Industry working group
 

Industry working group

Regulatory reporting  |  Industry working group  |  Taxonomy​  |  Detailed technical information  |  BEEDS portal

This page sets out the interaction the PRA has with industry on issues related to Solvency II regulatory reporting. Meeting notes from the industry working group and testing sub-group for all firms are made available here.

PRA Solvency II regulatory reporting industry working group

The PRA holds a Solvency II regulatory reporting industry working group as a forum for the PRA and industry representatives to discuss technical and practical implementation challenges. The working group is not intended as a forum to discuss policy interpretation.
 
The industry working group first met in November 2013 to discuss the terms of reference and agree the scope of the industry working group. Further meetings have been held regularly since then and a note of each meeting is set out below.
 
 

Testing sub-group

A testing sub-group of the PRA’s regulatory reporting industry working group was set up to assist firms in their technical preparations and first met in October 2014. Notes from all meetings are set out below.
 

Questions and answers

The industry working group, and testing sub-group as appropriate, receives questions from firms on regulatory reporting issues. Firms also send questions directly to the PRA either using the mailbox below or via their usual supervisory contact. A list of frequently asked questions (FAQs) - (see Key Resources below) - has been put together by the PRA to help insurance firms with these questions.

Firms should note that the preparation of the Solvency II templates should follow the requirements of the Delegated Regulation (EU) 2015/35 and the Implementing Technical Standards, which are directly binding on firms. Where this document is read it is recommended it is done so in conjunction with the EIOPA guidance.  Any subsequent comment by EIOPA could supersede any answer provided by the PRA in this document.

Technical queries on the reporting material should be presented to EIOPA through relevant trade bodies or alternatively directly to EIOPA using the Q&A form – see External links.

To raise further questions with the PRA, firms can contact:

a) Their named supervisory contact;

b) The PRA Firm Enquiries Function at PRA.FirmEnquiries@BankofEngland.co.uk or 020 3461 7000; or

c) Their relevant representative on the PRA regulatory reporting industry working group.
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