This overview is a guide to the Financial Services content within the Prudential requirements for insurers and intermediaries subtopic, with links to the appropriate materials. The subtopic focuses on the transposition and implementation of Directive 2009/138/EC (the Solvency II Directive) in the UK as well as the post–Brexit UK Solvency II regime following the UK’s withdrawal from the EU. It also contains some information about financial conglomerates and goes beyond solvency requirements by setting out systems and controls requirements that are specific to insurers as set out in the Systems and Controls Sourcebook (SYSC) in the Financial Conduct Authority (FCA) Handbook. For information about the EU’s Solvency II framework, see: Insurance and reinsurance (EU Law)—overview.
The prudential regulation of insurers in the UK focuses predominantly on the solvency of insurers and the integrity and competence of their senior management and controllers.
Insurers are ‘dual-regulated’. This means that they are authorised and prudentially regulated and supervised by the Prudential Regulation Authority (PRA) and regulated for conduct purposes by the FCA.
The PRA has a general objective to promote
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
CONTACT US
