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Welcome to the
Solvency ii Association
the largest association of Solvency ii
Professionals in the world
Dear Solvency ii Professional,
The Solvency II directive is often called
"The Risk and Compliance Managers'
Full Employment Act".
It is not
difficult to understand why.
Solvency II requires
four functions
to be established as part of an undertaking’s system of governance.
These functions are:
• Risk management
• Compliance
• Internal audit
• Actuarial
Insurers need to demonstrate that
they have sufficient in-house expertise or access to such expertise.
In order to safeguard the interests of
policyholders and beneficiaries, insurance companies must be managed
soundly and prudently. In this respect it is essential that
individuals in key positions do not pose a
risk to the interests of the insurance company or
its shareholders, e.g. through conflict of interests,
inadequate knowledge of the business of
insurance or through criminal activity.
Minimum standards are therefore set concerning the
fitness and propriety of corporate officers
who occupy key management positions.
Insurers need to demonstrate
that these persons are adequately
qualified and proper to do their jobs.
This is the reason insurers and reinsurers compete to hire
qualified professionals, and Solvency ii is often called
"The Risk and Compliance Managers' Full
Employment Act"
Insurers and reinsurers
headquartered outside the EU
('third-country insurers') are also affected.
Solvency ii includes specific rules for branches of direct insurers
headquartered outside the EU which are similar to those applied to
branches of insurers headquartered within the EU.
Many
non-EU countries try hard to become
Solvency ii Equivalent. Equivalence assessments aim
to ensure that the third country regulatory and supervisory regimes
provide a similar level of policyholder/beneficiary protection as
the one provided under the Solvency II Directive.
In case of
a positive equivalence determination
Member States are required to treat reinsurance contracts concluded
with undertakings having their head office in the third country
whose regime has been deemed equivalent,
in the same manner as
reinsurance contracts concluded with an undertaking which is
authorised under the Solvency II Directive.
In case of a positive equivalence
determination Member States
shall not require the localisation within the
Community of assets held to cover the technical provisions covering
risks situated in the Community, nor assets representing reinsurance
recoverables.
This is the reason Solvency ii is often called
"The Risk and Compliance Managers' Full
Employment Act" even for firms headquartered outside the EU.
Dear Solvency ii Professional,
We have a lot of things to do.
We have to learn, to know each other, to help each other.
Membership in the
Solvency ii Association
indicates that you are
someone who cares, learns, and belongs to a global community
of risk and compliance management professionals.
At every stage of your education, training
and career, our association provides networking, training, certification, information and services you
can use.
Membership is free.
Some of the best headhunters of the world
are not only aware of our association, but also add the members in
their database regularly, so you may have new opportunities.
Join us. Keep
current. Take advantage of the new opportunities.
Best Regards,
George Lekatis
President
of the Solvency ii Association
General Manager and Chief Compliance Consultant, Compliance LLC
1200 G Street NW Suite 800, Washington DC 20005, USA
Tel: (202) 449-9750
Email:
lekatis@solvency-ii-association.com
Web:
www.solvency-ii-association.com
HQ: 1220 N. Market Street Suite 804,
Wilmington DE 19801, USA
Tel: (302) 342-8828
Free E-book for all
Members:
100 Job Descriptions in Risk and Compliance
Management
www.solvency-ii-association.com/100_Job_Descriptions_in_Risk_and_Compliance_Management.htm
Join the Solvency ii Association. Membership is
Free
www.solvency-ii-association.com/How_to_become_member.htm
Member Benefits
www.solvency-ii-association.com/Member_Benefits.htm
Reading Room
www.solvency-ii-association.com/Reading_Room.htm
Download Our Brochure about our designation:
Certified Solvency ii Professional (CSiiP)
www.solvency-ii-association.com/Certified_Solvency_ii_Professional.pdf
Download Our Brochure about our designation:
Certified Solvency ii Equivalence Professional (CSiiEP)
www.solvency-ii-association.com/Certified_Solvency_ii_Equivalence_Professional.pdf
Certified Solvency ii Professional (CSiiP)
www.solvency-ii-association.com/Certified_Solvency_ii_Training.htm
Certified Solvency ii Equivalence Professional
(CSiiEP)
www.solvency-ii-association.com/Certified_Solvency_ii_Training_Non_EEA_Countries.htm
Privacy and Compliance with the Federal Trade
Commission Fair, the California Online Privacy Protection Act, the
Children Online Privacy Protection Act, the Privacy Alliance, the
Controlling the Assault of Non-Solicited Pornography and Marketing
Act
www.solvency-ii-association.com/Privacy.htm
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THE TEXT OF THE SOLVENCY II
DIRECTIVE
IN AN EASY TO READ
FORMAT
The Solvency ii Association has signed an exclusive worldwide partner
agreement with Solvency II Training Ltd,
so the Association will provide
Solvency II Training classes worldwide only in cooperation with Solvency II
Training Ltd.
Solvency II Training Ltd is a niche training
consultancy, specialising in the provision of Solvency II training
programs to organisations & individuals within the European Union
(EU), European Economic Area (EEA) & Non-EEA Countries, including the
Offshore Financial Centres (OFCs).
For Further Information or to
Register for one of our Solvency II Training courses contact:
Solvency II Training Ltd.
Level 33, 25 Canada Square
Canary Wharf, London E14 5LQ
Tel:
+44 (0) 207 060 3312
Fax: +44 (0) 207 681 3317
Email:
info@solvencyiitraining.eu
Web:
www.solvencyiitraining.eu
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