Guidance

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

Chapter

Background

Printed on: 01/11/2024

Rulebook at: 22/12/2023

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