The Royal London Group Solvency UK SFCR 2024 published in advance of the Solvency UK publication deadline on 27 May 2025, provides another early example of the additional SCR components detailed in the PRA template IR.25.04. The template replaces all the S.25.xx templates reported under Solvency II.
Royal London has been publishing group Solvency and Financial Condition Reports (SFCR) since 2019. As it uses a partial internal model for its SCR calculation, it has already provided quite detailed breakdown of its SCR components in template S.25.02 of the QRTs (see chart).
The information is aggregated into the SCR submodules using the Solvency II Wire Data IM Comparator tool.
However, this year for the first time, under the Solvency UK reporting, the company provided detail of its Counterparty default risk exposure by Type 1 exposure and Type 2 exposure.
Data and analysis for this article were provided using the Solvency II Wire Data Comparator Tool, which maps SCR component data to the standard formula and its submodules (broadly based on the Solvency II (private) template S.26 and the Solvency UK template IR.25.04).
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