This consultation seeks views on a draft supervisory statement which sets out the PRA’s expectations of firms in relation to existing rules on the valuation of financial assets.
The draft supervisory statement is intended to apply to all PRA-authorised insurers (firms) and may also be relevant to insurance holding companies and other entities in the same group, together with their advisors. The statement is intended to be equally relevant for life and general insurers - whether they are mutuals or proprietary companies.
The statement does not represent a change of policy. Future clarifications or expectations on the topic of valuation risk may be added to the statement.
The consultation closed on Friday 11 July 2014.