Groups

PRA Rules and Modifications by consent

• Group Supervision
• External Audit
• Transitional Measures (Chapter 9)
• Reporting Part (for procedures, formats and templates of the solvency and financial condition report)

• Modification by consent of the Solvency II Group Supervision rules for US-parented undertakings

UK legislation

• Overseas Insurance Regime – The Insurance and Reinsurance Undertakings (Overseas Insurance Regime, Transitional Provisions, etc.) Regulations 2024

Supervisory Statements and Statements of Policy

• Subordinated guarantees and the quality of capital for insurers (SS8/14) 
• Solvency II: The quality of capital instruments (SS3/15)
• Solvency II: The treatment of pension scheme risk (SS5/15)
• Solvency II: Group Supervision (SS9/15)
• Solvency II: applying EIOPA’s Set 1 Guidelines to PRA-authorised firms, (SS22/15, in particular Chapter 8)
• Solvency II: Regulatory reporting, internal model outputs (SS25/15 in particular paragraph 2.8)
• Strengthening individual accountability in insurance (SS35/15)
• Solvency II: internal model reporting codes and components (SS37/15)
• Solvency II: reporting and public disclosure options provided to supervisory authorities (SS40/15, in particular Chapter 11)
• Solvency II: Remuneration requirements (SS10/16)
• Solvency II: External audit of, and responsibilities of the governing body in relation to, the public disclosure requirement (SS11/16)
• Solvency II: ORSA (SS19/16, in particular Chapter 9)
• Cyber insurance underwriting risk (SS4/17)
• Financial management and planning by insurers (SS4/18)
• Solvency II: Matching adjustment (SS7/18, in particular paragraph 2.62)
• Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (SS3/19)
• Liquidity risk management for insurers (SS5/19)
• Solvency II: Prudent Person Principle (SS1/20)
• The PRA’s approach to insurance group supervision (Statement of Policy)
• Solvency II internal models: permissions and ongoing monitoring (Statement of Policy)
• Solvency II: Capital add-ons (Statement of Policy)
• Solvency II: The PRA’s approach to Standard Formula adaptations (Statement of Policy)
• Solvency II regulatory reporting waivers (Statement of Policy)
• Solvency II: The PRA’s approach to insurance own funds permissions (Statement of Policy)

Other relevant material

Guidelines originally issued by European Supervisory Authorities should be read in conjunction with "Interpretation of EU Guidelines and Recommendations: Bank of England and PRA approach after the UK’s withdrawal from the EU" (Statement of Policy)

• Guidelines on group solvency (EIOPA-BoS-14/181)
• Guidelines on reporting and public disclosure (EIOPA-BoS-15/109)
• Solvency II - Guidelines on Own Risk Solvency Assessment (EIOPA-BoS-14/259)
• Guidelines on application of outwards reinsurance arrangements to the non-life underwriting risk sub-module (EIOPA-BoS-14/173)
• Guidelines on System of Governance (EIOPA-BoS-14/253)