This Practice Notice provides an overview of the EU’s Solvency II framework (including the Solvency II Directive 2009/138/EC, the Omnibus II Directive 2014/51/EU and related materials). Solvency II deals with the capital, governance and reporting requirements for insurance firms. This Practice Note also considers changes that have been made to the Solvency II Directive by Directive (EU) 2025/2 (the Solvency II amending Directive) which entered into force on 28 January 2025 and must be applied in Member States from 30 January 2027.