Solvency II capital tests not part of augmented Icas regime, FSA confirms

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UK insurers will not be required to adopt a Solvency II balance sheet in the first wave of changes to the Financial Services Authority's (FSA) insurer capital adequacy standards (Icas) regime, the regulator has confirmed.

Julian Adams, director of insurance at the FSA, confirmed in a letter to insurers this week that that the so-called ‘Icas+' regime would not require Solvency II "tests and standards to be met", relieving fears insurers would have to include a Solvency II risk margin in their ca