Given that spring is just around the corner and with it the IMAP submission dates this letter provided some timely feedback for those working towards an IMAP date this year or indeed those considering a future application.
The PRA issued its latest Solvency II Directors’ update on 12 February. This covered, at a high level, a large variety of topics demonstrating the sheer numbers of priorities firms are currently trying to juggle.
Over the last few months recovery and resolution planning for insurers has become increasing area of interest for many following the issue of the PRA’s approach to insurance supervisions and PS5/14 ‘The PRA Handbook’ both issued in June last year.
It has been a busy few months for our Workplace Health and Wealth team but we are excited that the launch of GEM is getting closer. We are currently in testing mode and will be ready for our planned launch in March.
The Pensions Regulator has published a consultation on guidance for trustees of defined benefit schemes regarding member requests for transfers from DB to defined contribution schemes from 6 April 2015.
On the 23 Jan 2015 the PRA published consultation paper CP3/15 looking at Solvency II transitional measures and the treatment of participations. The consultation period closes on the 20 Feb 2015 with the policy statement expected in March 2015.
EIOPA has issued further Solvency II items and statements in February 2015. This blog highlights the key documents issued and those we can expect in the future.
There have a number of significant changes in average asset allocations in the UK non-life market since 2000. Will Solvency II be the catalyst for further changes in the investment strategies of non-life companies.
The continuing fall in corporate bond yields is likely to lead to a significant increase in pension schemes’ accounting liabilities.