Policies relating to reporting for Solvency 2 insurers.

PRA Rules, Waivers and Modifications by consent

UK legislation

  • Regular Supervisory Reporting requirements for solos – Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter XIII
  • Regular Supervisory Reporting requirements for groups – Commission Delegated Regulation (EU) 2015/35 (Title II, Chapter VI)  
  • Structure Of The Solvency And Financial Condition Report And Regular Supervisory Report - Commission Delegated Regulation (EU) 2015/35 (Annex XX)

UK technical standards

  • Supervisory reporting requirements - Commission Delegated Regulation (EU) 2015/2450, as amended, including by the Technical Standards (Solvency II Directive & Institutions for Occupational Retirement Provision Directive) (EU Exit) Instrument 2019, Annex K
  • Supervisory reporting requirements of special purpose vehicles - Commission Delegated Regulation (EU) 2015/462, as amended, including by the Technical Standards  (Solvency II Directive & Institutions for Occupational Retirement Provision Directive) (EU Exit) Instrument 2019 Annex C and The Technical Standards  (Solvency II Directive) (EU Exit) (No.2) Instrument 2020, Annex A

Supervisory Statements

General expectations on reporting:

  • Solvency II: Regulatory Reporting and exemptions (SS11/15)
  • Solvency II: approvals (SS15/15)
  • Solvency II: life insurance product reporting codes (SS36/15)
  • Solvency II: reporting and public disclosure options provided to supervisory authorities (SS40/15)
  • PRA approach to interpreting reporting and disclosure requirements and regulatory transactions forms after EU withdrawal (SS2/19 Chapter 4)

Capital assessment:

  • Solvency II: Regulatory reporting internal model outputs (SS25/15)
  • Solvency II: Internal model reporting codes and components (SS37/15)
  • Solvency II: Changes to internal models used by UK insurance firms (SS12/16)
  • Solvency II: Monitoring model drift and standard formula SCR reporting for firms with an approved internal model (SS15/16)
  • Solvency II: internal models – assessment, model change and the role of non-executive directors (SS17/16)

UK specific templates

  • Solvency II: Data collection of market risk sensitivities (SS7/17)
  • Solvency II: National Specific Templates LOG files (SS6/18)

Application of EIOPA Guidelines in relation to reporting

  • Solvency II: applying EIOPA's Set 1 guidelines to PRA-authorised firms (SS22/15)
  • Solvency II: applying EIOPA Set 2, System of Governance and ORSA Guidelines (SS41/15)

Own Risk and Solvency Assessment (ORSA)

  • Solvency II: ORSA and ultimate time horizon – non-life firms (SS26/15)
  • Solvency II: ORSA (SS19/16)

Expectations by entity types

  • Solvency II: third-country insurance and pure reinsurance branches (SS44/15)
  • Solvency II: Group supervision (SS9/15)
  • Authorisation and supervision of insurance special purpose vehicles (SS8/17)
  • International insurers: the Prudential Regulation Authority’s approach to branch authorisation and supervision (SS2/18)

Other relevant material

Guidelines and Q&As originally issued by European Supervisory Authorities should be read in conjunction with "Interpretation of EU Guidelines and Recommendations: Bank of England and PRA approach after the UK’s withdrawal from the EU" (Statement of Policy)

EIOPA Guidelines

  • Guidelines on the supervision of branches of third-country insurance undertakings (EIOPA-BoS-15/110)
  • Guidelines on reporting and public disclosure (EIOPA-BoS-15/109)
This page was last updated 31 January 2023