Guidance

SoP – The PRA’s approach to the publication of Solvency II technical information

Chapter

Background

Printed on: 29/06/2024

Rulebook at: 01/09/2022

1

Background

1.1

The Prudential Regulation Authority (PRA) is required to publish technical information (TI) necessary for the valuation of insurance liabilities for each relevant currency.1 This Statement of Policy (SoP) explains how the PRA fulfils its obligations in this regard. UK firms should use the PRA’s published TI for regulatory reporting from and including 11:00pm on Thursday 31 December 2020.

  • 1. Regulation 4B of the Solvency 2 Regulations 2015/575. The PRA published the first set of TI in January 2021.
  • 01/09/2022

1.2

This SoP is relevant to all UK Solvency II firms, including the Society of Lloyd’s and its managing agents, hereafter referred to as ‘UK insurers'.

  • 01/09/2022

1.3

The PRA refers to the currencies in which it publishes TI as ‘PRA relevant currencies’.

  • 01/09/2022