PRA published templates for statistical disclosures, as required under Article 31(2) of the Solvency II Directive. The templates supplement the supervisory disclosures document that includes the PRA supervisory approach and insurance regulations applicable in UK as of the end of 2018. This public disclosure is designed to foster a uniform level of transparency and accountability among supervisory authorities. The material published will be of primary interest to the PRA-authorized insurance companies.
Template A, one of the published statistical disclosure templates, covers the disclosure of aggregate statistical data on insurance and reinsurance undertakings supervised under the Solvency II Directive. Template B covers the disclosure of aggregate statistical data on insurance groups supervised under the Solvency II Directive. Templates C and D cover the disclosure of quantitative and qualitative aggregate statistical data, respectively, on the supervisory authority.
Keywords: Europe, UK, Insurance, Reinsurance, Solvency II, Templates, Statistics, Disclosures, PRA
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PRA published a statement on the regulatory treatment of retail residential mortgage loans under the Mortgage Guarantee Scheme, or MGS.
FCA is consulting, via CP21/7, on the second phase of proposed rules to introduce the UK Investment Firm Prudential Regime (IFPR).
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EIOPA published an opinion to set out its expectations on the supervision of the integration of climate change risk scenarios by insurers in their Own Risk and Solvency Assessment (ORSA).
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EC published the Implementing Regulation 2021/622 that lays down implementing technical standards for reporting of the minimum requirement for own funds and eligible liabilities (MREL).
BCBS has set out the strategic work priorities, as part of its the work program for 2021-22.
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.