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

14 June 2022: Charlotte Gerken gives a speech at the JP Morgan European Insurance Conference, talking about the goals of competitiveness and productive investment, and the impact these are having on the Review of Solvency II. She says that changes to regulations for UK insurers could help to achieve these goals.

10 June 2022: On Friday 10 June, we launched a Data Collection Exercise (DCE) on the Matching Adjustment Fundamental Spread calibration (MA-FS), to further support the review of Solvency II. Please refer to Review of Solvency II: 2022 Data Collection Exercise (DCE) for further information 

4 May 2022: Today we launched the PRA ‘Insurance Stress Test 2022 (IST 2022)’, relevant to the largest life and general insurers, to provide information about the impact of a range of stress scenarios on their business.

28 April 2022: Coinciding with HM Treasury’s consultation on the Solvency II Review, we published the following:

Solvency II news and publications

This page was last updated 14 June 2022

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