Relevant to Solvency II insurance and reinsurance firms holding, or intending to hold, material quantities of assets exposed to market risk, this consultation paper sets out the PRA’s proposed expectations for the reporting of sensitivities of solvency positions to key market risks.
Without modern technology and with the pressures from regulations such as Solvency II it will simply become impossible for today’s insurers to manage vast volumes of data. Find out how you can handle data to remove the threat of a heavy fine.
There is no doubt that Solvency II is placing a huge pressure on the insurance market, both from a reporting and capital adequacy point of view. With SII Pillar 3 introduced on 1st January, this short article briefly discusses how you can prepare for the new regime.
This PRA Policy Statement provides feedback to responses to Consultation Paper 18/16 ‘Reporting requirements for non-Solvency II insurance firms’. It sets out final rules for the new reporting requirements that apply to insurance firms that are outside the scope of Solvency II.
Solvency II: Monitoring model drift and standard formula SCR reporting for firms with an approved internal model
In this consultation paper, the Prudential Regulation Authority (PRA) proposes a supervisory statement setting out the PRA’s approach to monitoring model drift and expectations on firms with an approved internal model for the reporting formula Solvency Capital Requirement (SCR).
Published by Insurance Europe's Reinsurance Advisory Board, this report focuses on the use of internal models by reinsurers. Topics covered: history and experience of internal model use by reinsurers; benefits of using internal models for prudential purposes; the future for internal model use.
Bermuda is poised to receive European Parliament approval for Solvency II equivalence, will this boost the market’s potential on a global scale?
After the PRA approved many internal models for Solvency II capital calculation, insurers can't sit back and admire the fruits of their labour. With underwriting standards, setting reserves and corporate governance on the PRA’s radar in 2016, this article looks at how insurers can get a head start.
With the Solvency II and non-Directive firm (NDF) regimes coming into force on 1st January 2016, this supervisory statement sets out the PRA’s expectations of firms in relation to existing rules on the valuation of financial assets.
This consultation paper (CP) seeks views on two draft supervisory statements: internal model reporting codes and components; and life product codes. The CP is of interest to all UK insurance firms and groups within the scope of Solvency II and to the Society of Lloyd’s.