Solvency II

Solvency II sets out regulatory requirements for insurance firms and groups, covering financial resources, governance and accountability, risk assessment and management, supervision, reporting and public disclosure.

Latest Solvency II updates

22 May 2019: We published:

14 May 2019: We published a speech ‘Model use and misuse’ by David Rule, Executive Director of Insurance Supervision. 

8 April 2019: We issued the following two updates on the Regulatory reporting – insurance sector page, relevant to Solvency II insurers:

  1. National Specific Templates - we published a document to address inconsistencies in the NS.07 template, and assist firms in its submission for year-end 2018, see National Specific Templates (NSTs).
  2. Bank of England Insurance XBRL taxonomy v1.0.0 – we released a hotfix for the Bank of England Insurance data point model (DPM) and XBRL taxonomy v1.0.0, and technical artefacts to address inconsistencies identified. We also published an updated Solvency II XBRL filing manual to update sections that reference the Bank of England insurance XBRL filings, see Technical artefacts and support

3 April 2019: We published Consultation Paper 7/19 ‘Solvency II: Equity release mortgages - Part 2’ together with a letter from David Rule, Executive Director of Insurance Supervision.

Background

Solvency II came into force on 1 January 2016. You can see the full directive, and read more about Solvency II from the European Insurance and Occupational Pensions Authority.

Firms can apply for a Solvency II approval, a waiver or modification of rules, and find out about regulatory reporting under Solvency II.

Please see The National Archives for historic Solvency II information.

The National Archives

Solvency II news and publications

This page was last updated 22 May 2019
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