PRA is consulting on its approach to publication of Solvency 2 technical information at the end of the transitional period. It proposes:
- to adopt the same technical methodologies as EIOPA with limited exceptions, mainly elements that have to be changed as a result of the UK no longer being in the EU;
- to base its criteria on determination of relevant currencies on the relative materiality of technical provisions in each currency, and the currencies for which firms have volatility adjustment or matching adjustment authorisation;
- its approach on determining volatility adjustment reference portfolios; and
- publication of the TI on its website, with an explanation of where this deviates from EIOPA’s methodology.
PRA asks for comment by 30 September.