On 20 March 2015, the Prudential Regulation Authority (PRA) published PS2/15 – Solvency II: A new regime for insurers. PS2/15 contains the rules and 17 supervisory statements that are required for the UK to implement the Solvency II Directive.
The rules will sit within the PRA Rulebook and will come into effect on 1 January 2016.
PS2/15 provides feedback and final rules following earlier consultations including:
- CP16/14: Transposition of Solvency II: Part 3
- CP22/14: The PRA’s approach to with-profits insurance business
- CP23/14: Solvency II approvals
- CP24/14: Solvency II: further measures for implementation
- CP3/15: Solvency II: transitional measures and the treatment of participations
For further information: PS2/15 – Solvency II: A new regime for insurers, 20 March 2015