The Standard Formula Podcast | Assessing Prudential Insurance Regulation in Japan
The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
The Standard Formula Podcast | Insurers in Difficulty: Staying Compliant Under Solvency II
The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Group Supervision Under Solvency II
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
The Standard Formula Podcast | Back to Basics: Exploring the Many Facets of the Solvency II Regime
The European Supervisory Authorities (ESAs, comprising the European Banking Authority, European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) has published a final report...more
On 15 December 2025, Lloyd’s of London (Lloyd’s) announced that it had completed an extensive review of the Lloyd’s Byelaws and other rules and created a consolidated version of these requirements, which is available on the...more
With the aim of strengthening and harmonising the anti-money laundering (AML) and counter-terrorism financing (CFT) requirements across the EU, the latest overhaul of the AML/CFT Framework represents a significant shift in...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next year....more
The Council of the EU and the European Parliament (EP) have reached a provisional political agreement on an updated retail investment strategy package to empower and protect consumers and increase competitiveness in the EU's...more
This chapter discusses the European Union’s (EU’s) Solvency II (Solvency II) and the gradual divergence between that regime and what has come to be known as Solvency UK following the end of the Brexit transition period in the...more
Skadden was pleased to return as a sponsor of ReDirect 2025, a conference focused on the UK and European life and annuity reinsurance sector. We joined a great lineup of fellow sponsors: Athene, Aviva, BMO, Brookfield, Canada...more
Although the capitalization and prudential regulation of insurers is complex, the economic essence of an insurance company is simple. A company is established with capital and regulatory licenses. It agrees to make future...more
On 18 September 2025, Vicky White, director for prudential policy at the Prudential Regulation Authority (PRA), delivered a speech at the 30th Annual Bank of America Financials CEO Conference. The speech focused on the impact...more
The UK Prudential Regulation Authority (PRA) has published consultation paper LIAC01/25 proposing a series of low-impact amendments to its Rulebook and policy materials. The deadline for comments on the consultation is 2...more
The UK Prudential Regulation Authority (PRA) has published a policy statement outlining the PRA's final policy on the definition of capital (as consulted on in 2024), and on proposals in relation to securitisations and...more
The Prudential Regulation Authority ("PRA") has issued a letter, dated 4 July 2025, to Chief Risk Officers of life insurers active in the bulk purchase annuity ("BPA") market. The letter focusses on the use of so-called...more
In January 2025, an amending directive (Directive (EU) 2025/2, “Amending Directive”) was passed that will result in some important changes to the Solvency II Directive (Directive (EU) 2009/13/EU) taking effect across EU...more
INTRODUCTION - The recent “Solvency UK” reforms to Solvency II represent the UK’s tailored approach to insurance prudential regulation post-Brexit, aiming to enhance flexibility and competitiveness in the insurance...more
This chapter discusses prudential insurance regulation in Japan. Japan is the fourth-largest insurance market in the world, with a broad customer base and a varied range of offerings. This profile, coupled with ongoing...more
Host Rob Chaplin is joined by colleague Annabel Smethurst to guide “The Standard Formula” listeners through the prudential solvency regime in Japan, the fourth-largest insurance market in the world. They explore why Japan is...more
Established in 1994, the International Association of Insurance Supervisors (IAIS) is a voluntary membership organisation comprising insurance regulatory authorities, central banks, ministries of finance, and other...more
On 9 January 2025, the Prudential Regulation Authority (PRA) published its annual Dear CEO Letter setting out its priorities for the supervision of (re)insurers in 2025. Similar to last year, financial and operational...more
On November 15, 2024, the PRA issued a consultation paper (CP 15/24) proposing changes to the regulatory framework for UK insurance special purpose vehicles. Insurance special purpose vehicles (or ISPVs) are intended to...more
On 13 December 2024, the FCA and the PRA published linked Consultation Papers on operational incident and third-party reporting (FCA CP24/28 and PRA CP17/24). The consultations aim to create a structured framework for...more
“The Standard Formula” host Rob Chaplin is joined by Chiara Iorizzo to delve into the crucial, yet complex, public reporting component of Solvency II. This episode explores the Solvency and Financial Condition Report...more
The SFCR and Other Public Reporting - Introduction - The Solvency II regime, as legislated in the Solvency II Directive and elaborated upon in Chapter XII of the EU Commission Level 2 Delegated Regulation (2015/35), is...more
1. The Supervision Regime - Proportionality - The supervision regime is built on the principle of “proportionality,” in an effort to ensure that supervision remains effective and meets its underlying purposes without...more
1. Bank regulation - 1.1 PRUDENTIAL REGULATION - a) General (i) EU - ESRB: Speech on old and new frontiers of the ESRB: Systemic risk, non-banks and data analysis - Status: Final - The ESRB has published a...more
Undertakings in difficulty, in the context of Solvency II, refers to insurers that are either failing or likely to fail to meet their solvency capital requirement (SCR) or their minimum capital requirement (MCR) (together,...more