09 December 2016

44975

Retired Member

2,018Posts 6,638,907Views 2,336Comments
Finextra community

Financial Services Regulation

This network is for financial professionals interested in staying up to date on financial services regulation happening anywhere in the world. CFOs, bankers, fund managers, treasurers welcome.

PRA publishes feedback on Solvency II data collection

25 February 2014  |  1135 views  |  0

In May 2013, the Prudential Regulation Authority (PRA) sent targeted data collection requests to all internal model approval process firms.  The PRA has now published feedback on its webpage on the data collection exercises, which covers:

• comparison of individual capital assessment, standard formula solvency capital requirement (SCR), and internal model SCR – the quality of data was generally considered good;

• standardised risk information – the quality of data varied between life and general insurers where incomplete submissions and submissions with obvious errors were common;

• the credit benchmark portfolio survey – no comment on data quality; and

• the stochastic simulations survey – no comment on data quality. 

The PRA intends to repeat the data request to internal model firms in the second quarter of 2014.  It encourages firms to respond positively to future data requests, use the comments and feedback to improve the quality of data and improve their assessment of insurance risk.  In addition, life insurers should specifically prepare for ring-fenced fund reporting in Solvency II. 

Related link:

http://www.bankofengland.co.uk/pra/Pages/solvency2/preparing.aspx

Comments: (0)

Comment on this story (membership required)

Latest posts from Retired

An industry matured: highlights from Mobey Day 2016

18 October 2016  |  957 views  |  0 comments | recomends Recommends 0 TagsRetail bankingInnovation

Reorganising for the Age of Collaboration

27 September 2016  |  2542 views  |  0 comments | recomends Recommends 0

Fintech innovation in the B2B space has only just begun

12 September 2016  |  13674 views  |  1 comments | recomends Recommends 0 TagsPaymentsInnovation

Protecting Data with DLP

23 August 2016  |  5351 views  |  0 comments | recomends Recommends 0 TagsSecurityBrexit

How to end what ails online commerce

22 August 2016  |  4786 views  |  1 comments | recomends Recommends 0 TagsPaymentsTransaction banking

Retired's profile

job title
location
member since 2014
Summary profile See full profile »

Retired's expertise

What Retired reads
Retired writes about

Who's commenting on Retired's posts

Alex Aleksandrovski
Ketharaman Swaminathan
João Bohner
Steven Hatton
Graham Seel
Nikhil Thadani
Gerard Hergenroeder
Konstantin Rabin
Dharmesh Mistry
Matt Schofield
Anna Robert
Ian Davis