Guidance

SS15/16 – Solvency II: Monitoring model drift and standard formula SCR reporting for firms with an approved internal model

Chapter

Introduction

Printed on: 06/11/2024

Rulebook at: 31/12/2018

1

Introduction

1.1

This supervisory statement sets out the Prudential Regulation Authority’s (PRA) expectations of firms with an approved internal model, and provides further information on the PRA’s approach to monitoring model drift and the reporting of standard formula Solvency Capital Requirement (SCR) information.

  • 31/12/2018

1.2

This supervisory statement is relevant to UK solo insurance firms within the scope of Solvency II, including undertakings where the solo SCR is calculated by a group internal model, the Society of Lloyd’s in respect of each of their syndicates, and in respect of outputs of the Lloyd’s internal model.

  • 31/12/2018