EIOPA · 2108
Solvency Capital Requirement (SCR)
- Regulation
- (EU) No 2009/138 - Solvency II Directive (Insurance and Reinsurance)
- Article
- N/A
- Topic
- Solvency Capital Requirement (SCR)
- Submitted
- 2020-02-07
- Answered
- 2021-06-25
Question
As you know, Brexit may affect many aspects of Solvency II standard formula and reporting, including non-life and health Catastrophe risks, valid nominated ECAIs, and classification of government bonds. When are these Solvency II changes expected to be implemented?
Background
Brexit
Answer
EIOPA has published an Opinion on the solvency position of insurance and reinsurance undertakings in light of the withdrawal of the United Kingdom from the European Union. It explains the impact of the withdrawal of the UK in a number of areas of the standard formula. In a general way, following the end of the transitional period, the UK must be treated in the same way the standard formula treats non-EEA third countries
This Q&A is published by European Insurance and Occupational Pensions Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.
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