Solvency II: approvals

This supervisory statement is relevant to all UK insurance firms and to the Society of Lloyd’s. It sets out the Prudential Regulation Authority’s (PRA’s) expectations of firms regarding the following Solvency II approvals:

• internal model;
• matching adjustment, ancillary own funds and undertaking specific parameters; and
• other Solvency II approvals including: exclusion of an entity from the scope of group supervision; single group own risk and solvency assessment; solvency and financial condition report dispensation; and calculation method for the group solvency capital requirement.

Supervisory Statement 15/15 

Future version

Published on 28 February 2024. Effective from 31 December 2024.

• Supervisory statement 15/15 – Solvency II: approvals and permissions – February 2024 (PDF)

Following PS2/24 – Review of Solvency II: Adapting to the UK insurance market