Risk Management and Controls

Policies relating to risk Management and Controls for Solvency 2 insurers.

UK legislation

  • Investments in Securitisation Positions - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter VIII)
  • System of Governance - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter IX, sections 1 and 2)
  • Extension of the recovery period - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter XI)

UK technical standards

  • Certain prudential requirements for central securities depositories and designated credit institutions offering banking-type ancillary services - Commission Delegated Regulation (EU) 2017/390, Articles 9-42

Supervisory Statements

  • Solvency II: Longevity Risk Transfers (SS18/16)
  • Liquidity risk management for insurers (SS5/19)
  • Enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (SS3/19)
  • Solvency II: ORSA and the ultimate time horizon - non-life firms (SS26/15)
  • Financial management and planning by insurers (SS4/18)
  • Dealing with a market turning event in the general insurance sector (SS5/17)
  • Cyber insurance underwriting risk (SS4/17)
  • Solvency II: the treatment of pension scheme risk (SS5/15)
  • Solvency II: ORSA (SS19/16)
  • Solvency II: applying EIOPA Set 2, System of Governance and ORSA Guidelines (SS41/15)
  • Solvency II: Composites (SS8/15)
  • With-profits (SS14/15)
  • Solvency II: conditions governing business (SS16/15)
  • Solvency II: Lloyd’s (SS12/15)
  • Solvency II: Prudent person principle (SS1/20)

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 supervisory review process (EIOPA-BoS-14/179)
  • Guidelines on Own Risk Solvency Assessment (EIOPA-BoS-14/259)
  • Joint Guidelines for the prudential assessment of acquisitions of qualifying holdings (CEBS/2008/214)
This page was last updated 14 August 2023