On 9 July 2015, the Bank of England (BoE) published a speech delivered by its Executive Director of Insurance Supervision on adapting to Solvency II.  The speech provided an overview of the BoE's approach to capital under Solvency II.  In particular, the speech confirmed that the BoE does not intend to use Solvency II to increase required capital across the UK insurance sector, or maintain the current Individual Capital Adequacy Standards (ICAS) regime following 1 January 2016.  Other points emphasised in the speech included that Solvency II will be embraced in a proportionate manner and that the BoE intends to make final decisions on internal model approvals in early December 2015.