PRA U-turn on reporting in Solvency II guidelines implementation

Bank of England

UK insurers are to face extensive reporting requirements in the run-up to Solvency II, after the Prudential Regulation Authority (PRA) unveiled its plans to implement European Union-wide preparatory guidelines from next January.

In a consultation paper published on Monday, the PRA suggested it plans to adopt all the interim guidelines issued by the European Insurance and Occupational Pensions Authority (Eiopa).

But experts say the paper indicated that the regulator had taken a U-turn in its atti