Prudential Regulation Authority Rulebook

2.1

A firm must submit to the PRA information which is necessary for the purposes of the PRA’s supervision of the firm.

[Note: Art. 35(1) of the Solvency II Directive]

2.2

The information referred to in 2.1 must:

1. (1) be submitted in the applicable format or template (if any) provided in the Reporting Part; and
2. (2) include at least the information necessary to enable the PRA to assess the matters set out below when performing the supervisory review process:
1. (a) the firm’s system of governance;
2. (b) the business pursued by the firm;
3. (c) the valuation principles applied by the firm for solvency purposes;
4. (d) the risks faced by the firm;
5. (e) the risk management systems of the firm; and
6. (f) the capital structure, capital needs and capital management of the firm, and
3. (3) enable the PRA to make any appropriate decisions resulting from the exercise of their supervisory rights and duties.

[Note: Art. 35(1) of the Solvency II Directive]

2.3

The information referred to in 2.1 and 2.2 must comprise the following:

1. (1) qualitative or quantitative elements, or any appropriate combination thereof;
2. (2) historic, current or prospective elements, or any appropriate combination thereof; and
3. (3) data from internal or external sources, or any appropriate combination thereof.

[Note: Art. 35(3) of the Solvency II Directive]

2.4

The information which a firm submits to the PRA in accordance with 2.1 and 2.2 must comply with the following principles:

1. (1) it must reflect the nature, scale and complexity of the business of the firm, and in particular the risks inherent in that business;
2. (2) it must be accessible, complete in all material respects, comparable and consistent over time; and
3. (3) it must be relevant, reliable and comprehensive.

[Note: Art. 35(4) of the Solvency II Directive]

2.5

A firm must have in place appropriate systems and structures to fulfil the requirements set out in 2.1 to 2.4, as well as a written policy approved by its governing body ensuring the ongoing appropriateness of the information submitted by the firm to the PRA.

[Note: Art. 35(5) of the Solvency II Directive]

2.5A

As part of the information referred to in 2.1, a firm is required to submit to the PRA on a regular basis:

1. (1) the SFCR (if applicable) to be disclosed in accordance with Chapters 3 to 6, and/or Group Supervision 18, together with any equivalent information disclosed publicly under other legal or regulatory requirements to which the SFCR refers;
2. (2) the following reports:
   1. (a) a report comprising the results of each ORSA performed, in accordance with Conditions Governing Business 3.12;
   2. (b) if the firm is a third country branch undertaking, a resolution report in accordance with Article 49 of Chapter 2A;
   3. (c) for firms using an internal model, the qualitative information supporting template QMC.01 in accordance with Article 6(3) of Chapter 2A;
   4. (d) for firms using an internal model, the qualitative analysis supporting template AoC.01 in accordance with Articles 19 and 35 of Chapter 2A; and
   5. (e) for firms with a matching adjustment permission, the matching adjustment asset and liability information templates MALIR 1 - MALIR 7 in accordance with Articles 18A, 42A and 47A of Chapter 2A;
3. (3) annual, semi-annual and quarterly quantitative templates in accordance with Chapters 2A and 7.

2.5B

1. (1) A firm must submit the ORSA report referred to in 2.5A(2)(a) within 10 business days after concluding the ORSA.
2. (2) A firm must submit the quarterly quantitative reporting templates referred to in Articles 6(1), 21A(6) and 37 of Chapter 2A no later than 30 business days after the end of each quarter of the firm’s financial year.
3. (3) A firm must submit the quarterly quantitative reporting template QMC.01 (including the supporting qualitative information) referred to in Article 6(3) of Chapter 2A no later than 55 business days after the end of each quarter of the firm’s financial year.
4. (4) A firm must submit the semi-annual quantitative reporting template referred to in Article 7A of Chapter 2A no later than 30 business days after the end of each half of the firm’s financial year.
5. (5) A firm must submit the annual quantitative reporting templates referred to in Articles 8 to 18, 20, 21A, 38 to 48 and 50 of Chapter 2A no later than 70 business days after the firm’s financial year end.
6. (6) A firm must submit the quarterly quantitative reporting templates referred to in Article 23 of Chapter 2A no later than 55 business days after the end of each quarter of the group’s financial year.
7. (7) A firm must submit the annual quantitative reporting templates referred to in Articles 25 to 34 of Chapter 2A no later than 100 business days after the group’s financial year end.
8. (8) A firm must submit the annual quantitative reporting template AoC.01, (including the supporting qualitative analysis), referred to in Article 19 of Chapter 2A no later than 70 business days after the firm’s financial year end, commencing with the firm’s first financial year end on or after 31 December 2025 or, if the firm first receives internal model permission which takes effect after 31 December 2025, commencing with the firm’s first financial year end after the date that internal model permission took effect.
9. (9) A firm must submit the annual quantitative reporting template AoC.01 (including the supporting qualitative analysis), referred to in Article 35 of Chapter 2A no later than 100 business days after the group’s financial year end, commencing with the group’s first financial year end on or after 31 December 2025, or, if the group first receives internal model permission which takes effect after 31 December 2025, commencing with the group’s first financial year end after the date that internal model permission took effect.
10. (10) A third country branch undertaking must submit the resolution report referred to in Article 49(1) of Chapter 2A no later than 70 business days after (i) the firm’s first financial year end on or after 31 December 2024; and (ii) every third financial year end thereafter.
11. (11) A firm must submit the matching adjustment asset and liability information templates MALIR 1 - MALIR 7 referred to in Articles 18A, 42A and 47A of Chapter 2A no later than 130 business days, after the firm’s financial year end commencing with (i) the firm’s first financial year end on or after 31 December 2024; or (ii) if later, the firm’s first financial year end after the date that the firm’s matching adjustment permission took effect.
12. (12) A firm must disclose:
    1. (a) the SFCR referred to in 2.5A(1) no later than 70 business days after the firm’s financial year end; and/or
    2. (b) where applicable, the SFCR under Group Supervision 18 no later than 100 business days after the firm’s financial year end.

2.6

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2.7

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2.8

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2.9

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2.10

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2.11

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2.12

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2.13

1. (1) A firm, other than a friendly society, shall submit to the PRA the information referred to in 2.5A(1) to (3) in electronic format.
2. (2) A friendly society shall submit to the PRA the information referred to in 2.5A(1) to (3) in electronic format or by post or by hand to the Regulatory Data Group, Statistics and Regulatory Data Division, Bank of England, Threadneedle Street, London EC2R 8AH.

2.14

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