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

6 September 2021: Today we published CP17/21 ‘Solvency II: Definition of an insurance holding company’, relevant to insurance firms within the scope of the Group Supervision Part of the PRA Rulebook and to the Society of Lloyd’s. This consultation closes on Monday 6 December 2021.

13 August 2021: Today we published a letter from Charlotte Gerken: ‘Gathering information for the Solvency II Review: Qualitative Questionnaire’ , which introduces a qualitative questionnaire aimed at supporting the development of potential reforms, including cost benefit analysis, as part of the Government’s review of Solvency II.

4 August 2021: Today we published a letter from the PRA ‘Insurance Stress Test 2022 (IST 2022)’, relevant to the largest life and general insurers, setting out the high-level scope for the 2022 Insurance Stress Test exercise.

Solvency II news and publications

This page was last updated 01 October 2021

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