The Prudential Regulation Authority has published a consultation paper on proposed changes to its rules and other policy material as it looks to implement the government’s final package of reform to the UK’s version of Solvency II.
This is the first of three consultations that the PRA plans to make on Solvency II reform and contains the majority of the PRA’s proposals. It covers topics such as internal models, capital add-ons, the group solvency capital requirement and reporting and disclosure. It does not address changes to the rules on the matching adjustment – the PRA expects to launch a second consultation, relating to investment flexibility and the matching adjustment, in September 2023.
For further information, please contact:
Duncan Barber, Partner, Linklaters
duncan.barber@linklaters.com
