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LONDON, Dec 7 (Reuters) - Britain's largest insurerPrudential said on Monday it would give an update on Jan19 on its capital position under new European Union Solvency IIrules, ahead of other insurers who aim to issue ratios alongsideannual earnings statements.
Prudential, Aviva and the Lloyd's of London insurancemarket were among 19 insurers to get the green light on Saturdayfor so-called "internal models" of their solvency levels.
It is expected that using internal models to calculate thesepositions will enable insurers to cut capital costs comparedwith the standard model.
Legal & General said on Monday it would givesolvency details with its results on March 15, RSA saidit would report them on Feb 25 and Phoenix on March 23.
"Even though some of the internal model-related overhang isover, we believe that the market would still like to see moredetails around headline Solvency II rules, details aroundassumptions going behind the calculation, and sensitivitiesaround the Solvency II ratio," said analysts at JPMorganCazenove in a client note.
Just Retirement said its merger with PartnershipAssurance would close as planned during Jan 2016following its internal model approval. (Reporting by Carolyn Cohn, editing by Sinead Cruise)
