This supervisory statement is relevant to all UK insurance firms and to the Society of Lloyd’s. It sets out the Prudential Regulation Authority’s (PRA’s) expectations of firms regarding the following Solvency II approvals:
- internal model;
- matching adjustment, ancillary own funds and undertaking specific parameters; and
- other Solvency II approvals including: exclusion of an entity from the scope of group supervision; single group own risk and solvency assessment; solvency and financial condition report dispensation; and calculation method for the group solvency capital requirement.
Supervisory Statement 15/15 This SS has been deleted.