PRA has issued three items relating to Solvency 2 firms:

  • a letter from PRA’s Insurance Directors on longevity risk transfers setting out PRA’s views on the general issues arising from longevity risk transfers and clarifying PRA’s expectations of UK insurers and reinsurers carrying out these transactions;
  • a report on the Solvency 2 internal model approval process aimed at firms that are developing plans for future improvement or maintenance of the internal model; and
  • a note on directors’ certificates for 2015/2016 PRA regulatory returns from insurers aimed at helping firms required to provide a statement of ongoing compliance with parts of the Rulebook.

(Source: PRA Issues Solvency 2 Materials)