Policies relating to the calculation of underwriting risk as part of the Standard Formula Solvency Capital Requirement for Solvency 2 insurers.

PRA Rules


UK legislation

  • Solvency Capital Requirement Standard Formula - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter V, Sections 1, 2, 3, 4, and 7)

UK technical standards

  • Standard deviations in relation to health risk equalisation systems - Commission Implementing Regulation (EU) 2015/2013, as amended, included by the Technical Standards  (Solvency II Directive & Institutions for Occupational Retirement Provision Directive) (EU Exit) Instrument 2019, Annex N

Supervisory Statements

  • Cyber insurance underwriting risk (SS4/17)

Other relevant material

Guidelines 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)

  • Guidelines on health catastrophe risk sub-module (EIOPA-BoS-14/176)
  • Guidelines on application of the life underwriting risk module (EIOPA-BoS-14/175)
  • Guidelines on application of outwards reinsurance arrangements to the non-life underwriting risk sub-module (EIOPA-BoS-14/173)
This page was last updated 31 January 2023