Solvency II: Regulatory reporting internal model outputs

Supervisory Statement 25/15

Update 30 September 2019
This SS was updated following publication of Policy Statement 21/19 ‘Responses to CP13/19 Occasional Consultation Paper’. The updated SS takes effect from Saturday 30 November 2019, and is available under ‘Future version’ in the timeline below.

Update 17 October 2018
Following publication of Policy Statement (PS) 24/18 ‘Solvency II: Updates to internal model output reporting’, this SS was updated to amend paragraph 2.5 to reflect that non-life firms are no longer expected to submit counterparty information on IM.02.

In addition, the links to the templates and LOG files were updated and are available on the ‘Regulatory reporting – Insurance sector' page.

Update 26 July 2018
Following publication of Policy Statement (PS) 21/18 ‘Solvency II: Changes to reporting format’, this SS was updated to amend paragraph 2.1 to reflect that firms are expected to make submissions in XBRL format via the Bank of England’s Electronic Data Submission (BEEDS) portal.

Update 16 February 2017

Response to feedback to Consultation Paper (CP) 31/16

The updates to this statement and accompanying templates and LOG file was consulted on in Consultation Paper (CP) 31/16 ‘Updates to SS25/15 and SS26/15’.

The PRA received two responses. The responses were not directly in relation to the specific proposals outlined within the CP. However, the PRA has made the following amendments to the updates to the supervisory statements.

    • Clarify within the LOG file:
      • A conflict between the template and instructions on business plan loss ratios by Solvency II line of business (LoB), now clearly stating that this information is requested.
      • That kurtosis information within the market risk tab is not required.
      • All premium measures should be gross of acquisition costs and exclude insurance premium tax.
      • The instructions for PRE101, PRE102 and RES101, RES102 for columns C201 to C300 apply to template IM.03.02.01 only.
      • The instructions for business plan loss ratio - gross and net for premium risk apply to PRE209 / C101, C201 to C300 and C401 to C416.
      • The general comments for market risk apply to rows MKT101 to MK110, columns C201 to C201, C205 to C221, C301.
      • The output distribution to be reported for MKT301 is of the modelled annual return on a portfolio of equities (as opposed to an individual equity).
      • The risk-free rate referred to within MKT401 to MKT466 is the basic risk-free rate curves used in the calculation of the best estimate of the technical provisions.
      • A small number of inconsistencies with template IDs.
    • Amend the template to:
      • Remove ‘currency used for reporting’ as the LOG file specifically states reporting currency to be GBP.
      • Address a number of minor formatting issues within the template, including cell protection, column widths and the number of decimal points to display.

    The changes made did not result in a change to PRA policy and therefore do not represent any additional burden to firms.

    The templates and LOG files are available here: Regulatory reporting - insurance sector.

Published on 15 June 2015


This supervisory statement is of interest to UK insurance firms within the scope of Solvency II and to the Society of Lloyd’s in respect of each of their Syndicates and in respect of outputs of the Lloyd’s internal model. It sets out the PRA’s expectations of firms, and provides further clarity on the information to be reported by firms using an internal model to calculate the solvency capital requirement (SCR).

Where a firm uses an internal model, the PRA is required to evaluate ongoing compliance with the Solvency II internal model requirements. To monitor the performance of the approved internal models over time, the PRA expects firms to report the outputs of their approved internal model on an ongoing basis.

SS25/15 contains templates and log files that the PRA expects firms to use when submitting regulatory reports on its internal model outputs, see below.

SS25/15 was consulted on in Solvency II: further measures for implementation - CP24/14, appendix 5.

Current version

Published: 30 September 2019

Past versions

Published: 17 October 2018

Published: 26 July 2018

Published: 16 February 2017

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