November 13, 2018

PRA published templates A and B that are required under Article 31(2) of the Solvency II Directive. These templates supplement supervisory disclosures, which include the supervisory approach of PRA and insurance regulations applicable in the UK as of the end of 2017.

Template A covers the disclosure of aggregate statistical data on insurance and reinsurance undertakings supervised under Solvency II Directive. Template B covers the disclosure of aggregate statistical data on insurance groups supervised under Solvency II Directive. The public disclosure is designed to foster a uniform level of transparency and accountability between supervisory authorities.

Earlier, in August, PRA had published the supervisory disclosures in line with its obligations under Article 31(2) of the Solvency II Directive. These disclosures included aggregate statistical data on key aspects of the application of the prudential framework, a table covering the manner of exercise of the options provided for in the Solvency II Directive, links to the texts of insurance regulations applicable in the United Kingdom, and links to the supervisory approach of PRA.

 

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Keywords: Europe, UK, Insurance, Solvency II, Templates, Statistics, Disclosures, PRA