October 10, 2016
The Prudential Regulation Authority (PRA) has published a supervisory statement which sets out its expectations regarding the completion of the regulatory reporting requirements detailed in the Insurance Company – Reporting Part of the PRA Rulebook. The statement is applicable to insurance firms that are outside the scope of Solvency II and are not friendly societies (these firms are described as non-Directive insurance firms).
The statement will ensure a consistent reporting framework to enable the PRA to use the information efficiently and effectively, in order to meet its objectives for promoting the safety and soundness of firms.
The guidance on completing data items is set out in a series of appendices to this supervisory statement.
Response to the feedback for the consultation paper for this statement can also be found here.