This supervisory statement (SS) sets out the Prudential Regulation Authority’s (PRA) expectations for UK insurers to prepare, as part of their business-as-usual (BAU) activities, for an orderly ‘solvent exit’; and if needed, to be able to execute a solvent exit.
This SS applies to all PRA-regulated insurers except firms in passive run-off, UK branches of overseas insurers and Lloyd’s managing agents. With the above exceptions, it applies to UK Solvency II firms, non-Directive firms and the Society of Lloyd’s.
Current version
Published on 18 December 2024
- Following PS20/24 – Solvent exit planning for insurers