As the Brexited United Kingdom prepears to boldly step into the world of Solvency UK, which not only sounds but also looks remarkably like the European Solvency II, we take stock of the Solvency II ratios (soon to be Solvency UK ratios) of the UK insurance market.
The historgram charts below show the distribution of ratios of 153 UK solo insurers that provided figures between 2016 – 2023.
The chart divides the ratios into buckets of 100% (lower threshold <100%, upper threshold >1,000%)
The most notable change is the reduction in the number of firms reporting a ratio of between 100% – 200% (down from 87 to 69) and the increase in the adjacent bracket 200% – 300% (up from 32 to 46).
The number of entities with a ratio above 500% rose from 12 to 15.
Further 2023 SFCR analysis from Solvency II Wire Data
Insurance asset allocation of Europe’s largest groups 2016 – 2023
SFCR 2023: Solvency II template S.25.05 partial and full internal model reporting
AXA Group reports highest Solvency II ratio to date
Eurovita portfolio transfer to Cronos Vita details
Drivers of Solvency II ratio change 7 European insurance groups 2022 – 2023
More information about the data is available to premium subscribers of Solvency II Wire Data and subscribes to Solvency II Wire‘s exclusive SFCR Spotlight mailing list (subscribe for free here).
Datasets available on Solvency II Wire Data
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- Swiss Solvency Test (SST): all available data 2016 – 2022
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- Bermuda Financial Conditions Reports (BSCR): all available data 2016 – 2022
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- Bermuda Financial Statements: data for 226 insurers 2016 – 2022 (1090 reports) selected tables
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- Israel Economic Solvency Ratio Reports: all available data 2016 – 2022
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- Lloyd’s Syndicate filings: data for 143 syndicates 2016 -2023 (858 reports) selected tables
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- SOLVENCY II WIRE DATA Captive Hub
