Solvency II - More information

Articles - Coming soon


CII Thinkpiece

Richard Jones, John Smith and Brid Meaney:
Solvency II: Enabling Transformation Through Regulation

8 October 2009: Solvency II legislation which will take effect in October 2012 will implement a fundamental change to the current European insurance solvency framework and each insurer should decide now what Solvency II means for them. This Thinkpiece, written by Richard Jones, John Smith and Brid Meaney of IBM, outlines the key decisions that need to be made now to design the appropriate Solvency II programme. Insurers need to understand the drivers that could influence both the scale of investment and the value to be derived from their Solvency II Programmes.

To read IBM’s full paper upon which this Thinkpiece is based, entitled Solvency II: Enabling Transformation Through Regulation, please click here.

PricewaterhouseCoopers

Latest developments
on Solvency II


Recent updates

2010

February Countdown to Solvency II PricewaterhouseCoopers launch a new on-line library of Solvency II publications written by its SII Europe-wide specialists.
February Risk management framework: What's that really all about? Solvency II requires insurers to put in place an effective risk management framework. But what does that actually mean in practice and what are the biggest challenges?
February Data quality: Don't leave it until last! With so much of the Solvency II implementation project resting on the quality of the data, now is the time to make data a priority and get preparations on track.
February Model approval: Preparing a convincing case With the internal model approval process (IMAP) likely to be a learning curve for both supervisors and applicants, what practical steps can companies take to make a convincing case?

2009

November Completing the jigsaw: 'Third wave' of consultations outlines plans for use of partial models Rounding off earlier guidance on the approval and governance of internal models, CP65 reflects growing acceptance that most models sanctioned under the Internal Model Approval Process (IMAP) are initially likely to be partial as many firms seek more time to overcome difficulties that may preclude full approval.
November Up another notch: Standard formula capital requirements head even higher under ‘third wave’ Typical capital requirements for insurers using the ‘European Standard Formula’ could rise still further under proposals set out in the ‘third wave’ of Solvency II consultation papers (CPs), augmenting the already tougher line taken in the previous wave of CPs.
30 September Tougher line: Higher capital charges under Solvency II standard formula Eight of the 'second wave' of Solvency II consultation papers (CPs) propose some significant modifications to the 'European Standard Formula' for calculating capital requirements.
4 September Demystifying internal models for Underwriters The constraints that Solvency II will impose on business management will feed directly through to how underwriters select and price risks, and how their performance is measured.
1 September Making it clear - reporting and disclosure in the Solvency II world A much greater level of detail on the Pillar 3 requirements is now available following the publication of CP58 (the draft level 2 advice on supervisory reporting and disclosure) by CEIOPS.
29 July Wave 2: Building blocks for the final Directive PwC summarises the aims of each of the 24 consultation papers published by CEIOPS on the 2nd July, providing an overview of CEIOPS latest wave of CPs.
7 July How much is enough? Setting the standards for model approval within an integrated approach to risk management With the publication of two key consultation papers on model approval (CP56 and CP37, earlier in the year) there is now sufficient information in the public domain for insurers to develop detailed plans and start to allocate resources to model approval.
- Has the industry fed-back comments to CEIOPS? What happens next? CEIOPS has received more than 20,000 comments from 105 stakeholders including PricewaterhouseCoopers on the 26 Consultation Papers it produced.
- comments on each CP (June and September submissions)
- 01/07 summary (Wave 2: Building blocks for the final Directive)
- 29/07 summary July (Solvency II implementing measures - Taking solvency II to the next level)

Events

TCF

Solvency II

CII President's message

Login




Basket

Your basket is empty

View

Membership

Access exclusive member benefits and discounts

Join / Renew

Exam results

Check your exam results online now.

Get your exam results
Find out more...
cpd - supporting your learning and development needs

Supporting your learning & development needs

Go to CPD

Knowledge Services

A range of support facilities and learning options to help you get ahead and stay ahead.

CII Knowledge Services