Solvency II Review: Call for Evidence

Solvency II is the regime that governs the prudential regulation of insurance firms in the UK. This call for evidence is the first stage of the review of Solvency II.

The review is underpinned by three objectives:

• to spur a vibrant, innovative, and internationally competitive insurance sector
• to protect policyholders and ensure the safety and soundness of firms
• to support insurance firms to provide long-term capital to support growth, including investment in infrastructure, venture capital and growth equity, and other long-term productive assets, as well as investment consistent with the government’s climate change objectives.

The government seeks views on how to tailor the prudential regulatory regime to support the unique features of the insurance sector and regulatory approach in the UK.

Further to the call for evidence published on 19 October 2020 on the Solvency II Review, the period of consultation has been extended by one month to 19 February 2021. Please submit your responses to SolvencyIIReview@hmtreasury.gov.uk