The Solvency II Directive and its impact on the UK Insurance Industry: Bank of England Response to the Committee’s Third Report of session 2017–19 Contents

Contents

Second Special Report

Appendix: Bank of England Response

Executive Summary

Part 1: Overview of the UK insurance industry

The rationale for the prudential regulation of insurers

Part 2: Solvency II and the UK insurance sector

The development of Solvency II

The impact of Solvency II on insurers and policyholders

Part 3: Response to recommendations – PRA issues

Competition

Prudential regulation and competition

Observations on the state of competition in the insurance sector

Industry engagement and staff skills

Part 4: Response to recommendations – policy issues

Overview

International developments

Response to specific recommendations





27 February 2018