17 June 2021
In her speech of 15 June 2021, Anna Sweeney, PRA’s Insurance Executive Director, gave notice of a data gathering exercise to inform possible reform of the Solvency II regime. The QIS will be released over the summer and the regulator seeks high-quality data within a period of around 3 months. This will require significant resource from firms. Participation is voluntary although the PRA “will be writing to a variety of firms in each sector strongly encouraging them to participate”. Anna S...
06 May 2021
It is important for us at OAC to consider how we continue to enhance diversity and inclusion to create a widespread cultural change. That is why we are working with The Mutual Diversity Alliance, a...
07 July 2020
There have been a number of publications regarding climate change recently. We consider the key publication to be the letter on 1 July 2020 from Sam Woods "Managing climate-related financial risk –...
30 June 2020
Technical Information and Relevant Currencies On 30 June, the PRA published "Consultation Paper CP5/20 Solvency II technical information: The PRA’s proposed approach to the publication at the end...
25 June 2020
In keeping with managing the burden on firms' resources, the PRA considers that the existing Regulatory Supervisory Report (RSR) cycle will continue. Effectively, in terms of future submissions, wh...
24 June 2020
The statement made by Rishi Sunak, The Chancellor of the Exchequer, on 23 June 2020 included the following in respect of Solvency II and insurers: The Government also plans to bring forward a rev...
23 June 2020
Under EIOPA's latest Solvency II Taxonomy Roadmap, the (solo) deadlines for the remaining 2020 reference dates are as follows: 2020 Q2 4 August 2020 2020 Q3 4 November 2020 2020 Q4 4 Februar...
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