The UK Insurance industry is poised for a transformative journey with the adoption of Solvency II reforms, as outlined in the pivotal CP12/23 released in January 2024. Spearheaded by the Prudential Regulation Authority (PRA), these reforms signal a paradigm shift, tailoring the Solvency II framework to the intricacies of the UK insurance market.
As the sector prepares for these changes, this comprehensive 12-month preparedness guide offers a strategic roadmap for insurance firms. The guide places a particular emphasis on addressing the formidable data challenges associated with CP12/23 and aims as a navigation guide for insurance firms on how to be best prepared. This transition ensures regulatory compliance, elevates operational efficiency, reduces costs, and mitigates risks, with a focal point on the pivotal role of data.
Download the "Preparedness guide for Solvency II reforms in the United Kingdom" whitepaper.
