On 24 September 2015, the Prudential Regulatory Authority in the UK (PRA) released a letter issued by it to (re)insurers which summarises the PRA's proposed approach to a number of Solvency II-related approvals ahead of 1 January 2016.  The PRA intends to issue simultaneous 'approve' or 'reject' decisions to firms in early November in relation to use of the matching adjustment and early December regarding the internal model approval process. The PRA stresses that firms should have robust back-up plans in place to cater for the possibility that their applications are not approved. The letter also details how the PRA intends to consider, process and apply capital add-ons.