UK Solvency II reform: PRA finalises policy in most areas

The Prudential Regulation Authority has made great strides on Solvency II reform, having settled its final policy on most of the changes to its rules and policy materials that are needed to reform the framework. Policy statement PS2/24 sets out the PRA’s final policy in the relevant areas, together with details of the feedback that the PRA received to its June 2023 consultation on Solvency II reform. The PRA has also published a related policy statement (PS3/24), specifically on the reporting and disclosure aspects of the Solvency II review.