PRA plans fee for Solvency II internal model approval

Sam Woods PRA

In a consultation paper on regulated fees and levies, the regulator announced its proposal for introducing a fee of between £80,000 and £268,000 for full and partial internal model approvals under Solvency II. The PRA does not currently charge insurers regulatory transaction fees for Solvency II internal model approvals. These costs have been previously absorbed within the regulators Solvency II implementation project fee, which was last charged in 2015/2016. Now the regulator says it need