UPDATE 1-Prudential likely to be first UK insurer to announce Solvency II ratios

(Adds Aviva, Standard Life, Admiral plans, share prices)

By Carolyn Cohn

LONDON, Dec 7 (Reuters) - Britain's largest insurerPrudential said on Monday it would give an update on itscapital position under new EU Solvency II rules on Jan. 19,ahead of other insurers who plan to issue ratios alongsideannual earnings statements.

Prudential, Aviva and the Lloyd's of London insurancemarket were among 19 insurers to get the green light from theBank of England on Saturday for so-called internal models oftheir solvency levels.

It is expected that using "internal models" to calculatethese positions will enable insurers to cut capital costscompared with 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 March23.

Aviva and Standard Life officials said theyalso planned to issue ratios alongside annual results.

"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," JPMorgan Cazenove analysts said.

Just Retirement said its merger with PartnershipAssurance would close as planned during January 2016,following its internal model approval.

Some companies have not applied for internal models yet.

Admiral said on Monday it was expecting to apply in2017 to use a partial internal model.

UK insurers' share prices rose between 1 and 2 percent,outstripping a 0.6 percent rise in the FTSE 100 index. (Reporting by Carolyn Cohn; editing by Sinead Cruise and DavidClarke)