First published on 20 March 2015
This supervisory statement sets out the Prudential Regulation Authority’s (PRA’s) expectations of firms in relation to surplus funds. The statement is addressed to all UK Solvency II firms which write with-profits insurance business and which are therefore required to calculate surplus funds. The statement should be read alongside all relevant EU legislation including the Solvency II Regulations and the relevant parts of the PRA Rulebook.