PRA publishes SS5/19 and PS18/19

Prudential Regulation Authority publishes SS5/19 and PS18/19 24 September 2019 Liquidity risk management for insurers - SS5/19 This supervisory statement (SS) sets out the Prudential Regulation Authority’s (PRA’s) expectations concerning the liquidity risk management framework an insurer must have in place pursuant to Conditions Governing Business 3.1(2)(c)(iv) and Group Supervision 17.1(1)(b) in the PRA Rulebook for Solvency II firms or to Insurance Company – Overall Resources and Valuation 2.5(3) in the PRA Rulebook for non-Directive firms, as applicable.  It is addressed to all UK Solvency II firms, including in respect of the Solvency II groups provisions, to the Society of Lloyd’s (‘the Society’) and its managing agents, and to non-Directive insurers (collectively referred to as ‘insurers’). Read more Liquidity risk management for insurers - PS18/19 This Prudential Regulation Authority (PRA) Policy Statement (PS) provides feedback to responses to Consultation Paper (CP) 4/19 ‘Liquidity risk management for insurers’ (see page 2 of 2). It also contains the PRA’s Supervisory Statement (SS) 18/19 ‘Liquidity risk management for insurers’ (Appendix). This PS is relevant to all UK Solvency II firms, including in respect of the Solvency II groups provisions, the Society of Lloyd’s (‘the Society’) and its managing agents, and non-directive insurers (collectively referred to as ‘insurers’). Read more