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

15 January 2019: Following comments from firms and other industry participants on ‘Securitisation Regulation: PRA and FCA joint statement on reporting of private securitisations’, the final direction applicable to all UK established originators, sponsors and securitisation special purpose entities (SSPEs) has been delayed and will be published by the end of January 2019, rather than on Tuesday 15 January 2019 as originally specified.

31 December 2018: Following publication of PS21/18 ‘Solvency II: Changes to reporting format’, SS6/18 'Solvency II: National Specific Templates LOG files' and PS24/18 ‘Solvency II: Updates to internal model output reporting’, related templates and LOG files have been updated to reflect the Monday 31 December 2018 effective date. These are available on the Regulatory reporting – insurance sector page.

20 December 2018: Further to Policy Statement 29/18 ‘Securitisation: The new EU framework and Significant Risk Transfer’, we published a joint statement with the Financial Conduct Authority (FCA), ‘Securitisation Regulation: PRA and FCA joint statement on reporting of private securitisations’. This direction is intended to apply to all UK established originators, sponsors and securitisation special purpose entities (SSPEs) from Tuesday 15 January 2019.

14 December 2018: EIOPA published its results report of the insurance stress test exercise. More information on the stress tests and timescales can be found on EIOPA's website.


10 December 2018: We published a letter from David Rule, Policy Statement 31/18 ‘Solvency II: Equity release mortgages’ together with an updated SS3/17 ‘Solvency II: Matching adjustment - illiquid unrated assets and equity release mortgages’. The policy will take effect from 31 December 2019.

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 15 January 2019
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