First published on 17 August 2015
This supervisory statement sets out the list of codes which the PRA expects firms to use when reporting information on life business or annuities stemming from non-life business at product level. The life product codification has been divided into categories, similar to those used by the Association of British Insurers (ABI) for its new business data collection:
- investment and savings;
- individual pensions;
- corporate pensions;
- protection; and
SS36/15 is relevant to all UK insurance firms and groups within the scope of Solvency II and to the Society of Lloyd’s. The PRA consulted on the proposals in CP20/15 and has taken the feedback received into consideration.