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


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


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


International developments

Response to specific recommendations

27 February 2018