Minimum Capital Requirement and Solvency Capital Requirement

PRA Rules

• Minimum Capital Requirement
• Solvency Capital Requirement – General Provisions
• Composites
• Transitional measures
• MCR Risk Factors For Non-Life And Health Insurance Or Reinsurance Obligations – Commission Delegated Regulation (EU) 2015/35 (Annex XIX), deemed to be a PRA Rule by the Solvency 2 and Insurance (Amendment) (EU Exit) Regulations 2019 (Regulation 4)

UK legislation

• Solvency Capital Requirement – Standard Formula - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter V)
• Solvency Capital Requirement – Internal Models - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter VI)
• Minimum Capital Requirement - Commission Delegated Regulation (EU) 2015/35 (Title I, Chapter VII)
• Lines of Business - Commission Delegated Regulation (EU) 2015/35 (Annex I)

Supervisory Statements

• Solvency II - the solvency and minimum capital requirements (SS4/15)
• Solvency II - Composites (SS8/15)

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 the extension of the recovery period in exceptional adverse situations (EIOPA-BoS-15/108)
• Guidelines on basis risk (EIOPA-BoS-14/172)