October 18, 2017

PRA hosted three roundtables with insurers, investors, credit analysts, and equity analysts to discuss the first round of Solvency and Financial Condition Reports (SFCRs) published by EU insurers in 2017. These discussions were held during September 04 to 13, 2017. PRA is publishing a summary of the roundtables that sets out the feedback from both the preparers and users of these reports.

SFCRs are publicly disclosed narrative reports, alongside data in standardized reporting templates, which form part of insurers’ Pillar 3 disclosure obligations under Solvency II. The roundtables were chaired by David Rule, Executive Director of Insurance Supervision. The objectives of the roundtables were to discuss the approach of the UK insurers to their SFCR disclosures and the feedback received on them; whether the SFCR disclosures had provided insurance investors and analysts with the information they need to understand the solvency and financial condition of UK insurers; and, if not, identify the most important missing elements.

 

Related Link: SFCR Feedback Summary (PDF)

Keywords: Europe, UK, Insurance, Solvency II, SFCR, Disclosures, Pillar 3, Reporting, PRA

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