HM Treasury is conducting a comprehensive review of Solvency II, the EU-derived prudential regulatory framework for insurers and reinsurers operating in the UK. The review addresses capital requirements, risk transformation, captive insurance, and alignment with international standards including Basel 3.1 and IFRS 17, with draft amendment regulations and consultation on insurer resolution regimes currently in progress.
The government has published a consultation to support new risk transfer solutions in the insurance industry.
The government is publishing a summary of the responses to the call for input, its conclusions, and which measures will be explored further. The government welcomes further representations and engagement from industry.
Government seeks views on reforming the prudential regulation of the UK insurance sector.