Skip to main content

  • AddRemove
  • Build a Report 

PRA Update on Solvency II Implementation

11 November 2014
Mayer Brown Newsletter

On August 11, 2014, a consultation paper regarding the transposition of the Solvency II Directive into the Prudential Regulation Authority PRA (“PRA”) rules was published. The paper sets out changes to the PRA’s rules required to implement the Directive as amended by Omnibus Directive II.

The paper, CP 16/14 ( publications/cp/2014/cp1614.pdf), considers:

  • Changes to primary legislation and the PRA Handbook to implement Omnibus II;
  • Areas not covered previously, such as proposals in relation to surplus funds, and areas where the PRA has further developed its approach;
  • Feedback on responses to the previous consultation paper, CP 12/13; and
  • An economic cost benefit analysis of the most material rule changes proposed in this consultation paper.

The PRA is seeking responses by November 7, 2014.

An update on implementation was published on August 29, 2014, providing information regarding (i) the relationship between the risk margin and calibration of non-hedgeable risks; and (ii) assessing credit risk for matching adjustment portfolios ( olvency2/solvency2updateaugust2014.pdf).

The Build a Report feature requires the use of cookies to function properly.  Cookies are small text files that are placed on your computer by websites that you visit. They are widely used in order to make websites work, or work more efficiently.  If you do not accept cookies, this function will not work.  For more information please see our Privacy Policy

You have no pages selected. Please select pages to email then resubmit.