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.

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.

Latest Solvency II updates

28 July 2021: We published CP16/21 ‘Insurance business transfers’. This CP is relevant to all PRA-authorised insurers, including the Society of Lloyd’s and its managing agents. It is also relevant to mutuals and friendly societies. The consultation closes on Thursday 28 October 2021.

20 July 2021: We published a letter from Charlotte Gerken ‘Gathering data for the Solvency II Review’, and updated our Review of Solvency II: Quantitative Impact Survey (QIS) page, announcing its launch and providing more information to firms.

19 July 2021: We published a statement on the recalculation of the Transitional Measure on Technical Provisions (TMTP), relevant to PRA-regulated insurance firms. 

8 July 2021: We published CP11/21 ‘Review of Solvency II: Reporting (Phase 1)’, relevant to all UK Solvency II firms, the Society of Lloyd’s and its managing agents, insurance and reinsurance undertakings that have a UK branch (third-country branch undertakings), and firms within the PRA’s Temporary Permissions Regime for (re)insurers. This consultation closes on Friday 8 October 2021.

Solvency II news and publications

This page was last updated 28 July 2021

Give your feedback

Was this page useful?
Yes
No
Add your details...