In February 2024, the Prudential Regulation Authority (PRA) published the first two sets of rules expected to be published during 2024 as part of its ongoing Solvency II review. The rules include Policy Statement 2/24 Review of Solvency II: Adapting to the UK insurance market (PS2/24), and Policy Statement 3/24 Review of Solvency II: Reporting and disclosure phase 2 near-final (PS3/24). This paper gives an overview of the policy statements, including the key changes following the consultation period.
Briefing note
Review of Solvency II update: Policy Statements 2/24 and 3/24
ByTatiana Egoshina, and Florin Ginghina
6 March 2024