On 10 April 2015, we issued the solvency standard for Variable Annuity Business 2015. The new standard is effective from 10 April 2015 and applies to a licensed insurer if imposed under a condition of licence. The new standard sets out our methodology for the determination of capital requirements for variable annuity business and provides further background on our approach to associated conditions of licence.
The following documents were prepared during the development of the Variable Annuities solvency standard.
A Regulatory impact statement was released in April 2015.
View the Regulatory impact statement (PDF 354KB)
A Response to submissions on the proposal in respect of the solvency treatment of Variable Annuities was released on 19 December 2014
View the Response to submissions (PDF 383KB)
Public consultation document on the solvency treatment of Variable Annuities was released on 5 September 2014.
View the Public consultation document (PDF 210KB)