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Certified Solvency ii Training for non-EEA countries
from the Solvency
ii Association
the largest association of Solvency ii
Professionals in the world
The Solvency ii
Association develops and maintains a compendium of Solvency ii
related risk and compliance topics. Subject matter experts review
and update this body of knowledge.
The Solvency ii Association offers the following risk and
compliance training course:
Certified Solvency ii Equivalence Professional (CSiiEP): Preparing
for Equivalence with the Solvency ii Directive of the EU
-
Prep Course (3 days)
Understanding the Solvency ii and the Reinsurance directives of
the EU, and their extraterritorial application to non-EU
countries.
This course leads to our certification:
Certified Solvency ii Equivalence Professional (CSiiEP)
To learn more
about the online exam you may visit:
www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf
www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf
Instead of training,
you can have more
1.
Training
2. Certification
by the Solvency ii Association.
As a certified professional,
you are entitled to write about your certificate(s) in your CV,
resume, websites etc. using the name and the logo of the association.
3.
Membership to the Association
and Updates
- You become (at no cost) a member of the Solvency ii Association,
to stay current with new developments in the Solvency ii related
projects and news.
You will continue to learn,
month after month.
Course Title
Preparing for Equivalence with the Solvency ii Directive of the
European Union
Understanding the Solvency ii directive of the EU and the
extraterritorial application
to
non-EU countries.
(3 days)
Objectives:
This course has been
designed
to provide with the knowledge and skills needed to understand the
Solvency ii and the Reinsurance directives of the EU, and
their extraterritorial application to non-EU countries.
Target Audience:
Many
non-EEA countries
have announced significant enhancements to their solvency and
disclosure regulations for insurance,
to achieve recognition as having equivalent regulatory standards to
those in Europe’s Solvency II Directive.
This course is
intended
for managers, professionals and consultants working in countries
outside the EEA, that want to understand the Solvency ii Equivalence
requirements.
This course is
intended
for managers, professionals and consultants working in groups whose
parent is located in a third country,
providing insurance services in the EEA (their EEA subsidiaries
meet the requirements imposed by Solvency II).
This course is
recommended
for senior managers and executives of non-EEA countries involved in
risk and compliance.
About the Course
INTRODUCTION
·
The European Union’s Legislative Process. Directives and Regulations
·
The Financial Services Action Plan (FSAP) of the EU
·
Solvency ii
and the
Lamfalussy Process
·
Level 1:
Framework Principles
·
Level 2:
Implementation of Principles. Detailed Technical Measures
·
Level 3:
Strengthening Cooperation Among Regulators
·
Level 4:
Enforcement
·
Overview of the Solvency I framework
·
From Solvency I to Solvency II
·
Solvency II Key Players
·
Committee of European Insurance and Occupational Pension Supervisors
(CEIOPS)
·
European Insurance and Pension Committee (EIOPC)
·
CEA (Comité Européen des Assurances) - the European Insurance and
Reinsurance Federation.
·
The International Association of Insurance Supervisors (IAIS)
OVERVIEW OF THE SOLVENCY II DIRECTIVE
·
Solvency ii: An Overview
·
A Risk Based Approach
·
A Unified Legislative Basis for Prudential Regulation of Insurers
and Reinsurers
·
Risk-Based Capital Allocation
·
Pillar 1:
The Financial Resources Needed to be Considered Solvent
·
The Solvency Capital Requirement (SCR)
·
The Standard Approach
·
The Internal Model
·
The Collection of Additional Historical Data
·
External Data
·
The IT Challenge
·
The Minimum Capital Requirement (MCR)
·
Pillar 2
and the
Supervisory
Review Process
·
Own Risk and Solvency Assessment (ORSA)
·
ORSA
as an
internal assessment
process
·
ORSA
as a
supervisory tool
·
The role of the ORSA
- not a third solvency capital requirement
·
Pillar 3
and the Disclosure Requirements
·
Solvency and Financial Condition Report
THE SOLVENCY II DIRECTIVE
·
Scope
of the Application
·
Authorisation
·
Discussing some important definitions
·
General principles of supervision
·
Home vs. Host country
·
Information to be
provided for supervisory purposes
·
Capital Add-on
·
System of Governance
·
General Governance Requirements
·
Risk Management
·
Internal
Controls
·
Internal Audit
·
Actuarial Function
·
Outsourcing
· Own
Risk and Solvency Assessment
· Own
Risk and Solvency Assessment and CEIOPS
· Public
Disclosure
· Professional Secrecy
and Exchanges of Information
· Agreement
with Third Countries
·
·
Rules Relating to the Valuation of Assets and Liabilities, Technical
Provisions, Own Funds, Solvency Capital Requirement, Minimum Capital
Requirement and Investment Rules
·
Valuation of Assets and Liabilities
·
Calculation of Technical Provisions
·
Recoverables from Reinsurance Contracts and Special Purpose Vehicles
·
Own Funds
·
Determination, Classification, Eligibility of Own Funds
·
Solvency Capital Requirement
·
Requirement Using the Standard Formula or an Internal Model
·
Value-at-Risk
·
The SCR and the
Value-at-Risk
Measure Calibrated to a
99.5%
Confidence Level over a
1-year
Time Horizon.
·
Calculation of the Solvency Capital Requirement
·
Structure of the Standard Formula
·
Design of the Basic Solvency Capital Requirement
·
Capital requirement for operational risk
·
Full and Partial Internal Models
·
Calculation of the Minimum Capital Requirement
·
Insurance and Reinsurance Undertakings in Difficulty or in an
Irregular Situation
·
Identification and Notification of
Deteriorating Financial Conditions
by the Insurance and Reinsurance Undertaking
·
Non-Compliance
with the Solvency Capital Requirement
·
Non-Compliance
with the Minimum Capital Requirement
·
Supervisory Powers in Deteriorating Financial Conditions
·
Withdrawal of authorisation
SOLVENCY II,
GROUP SUPERVISION AND THIRD COUNTRIES
·
Right of Establishment and Freedom to Provide Services
·
Conditions for
Branch Establishment
·
Branches Established Within the Community and Belonging to Insurance
or Reinsurance Undertakings whose Head Offices are Outside the
Community
·
Principles and Conditions of Authorisation
·
Equivalence
·
Subsidiaries
of Insurance and Reinsurance Undertakings Governed by the Laws of a
Third Country and Acquisitions of Holdings by such Undertakings
·
Third-Country Treatment of Community Insurance and Reinsurance
Undertakings
·
Supervision of Insurance and Reinsurance Undertakings in a Group
·
Group Supervision: Definitions, Cases of Application, Scope and
Levels
·
Supervision of Group Solvency
·
Choice of Calculation Method and General Principles
·
Choice of Method
·
Related Insurance and Reinsurance Undertakings
·
Intermediate Insurance Holding Companies
·
Related Third-Country Insurance and Reinsurance Undertakings
·
Related Credit Institutions, Investment Firms and Financial
Institutions
·
Calculation methods
·
Method 1 (Default method): Accounting Consolidation-Based Method
·
Group Internal Model
·
Method 2 (Alternative Method): Deduction and Aggregation
·
Third countries
·
Parent Undertakings Outside the Community - Verification of
Equivalence
·
Parent Undertakings Outside the Community - Absence of Equivalence
·
Parent Undertakings Outside the Community - Levels
·
Cooperation with Third Countries Supervisory Authorities
THE REINSURANCE DIRECTIVE
·
Directive 2005/68/EC of 16 November 2005 on Reinsurance
·
Reinsurance, Captive Reinsurance Undertakings, Finite Reinsurance
·
Authorisation
·
Principles and Methods of Financial Supervision
·
Supervision of Branches Established in Another Member State
·
Special Purpose Vehicles
·
Third Countries
·
Transposition
THE SOLVENCY II DIRECTIVE AND THE NON-EEA COUNTRIES
·
Solvency ii, the Reinsurance Directive and Countries outside the
European Economic Area
·
The
International Association of Insurance Supervisors (IAIS)
Defines a (Similar to Solvency ii)
3 Pillar Approach
to Supervision
·
The
Swiss Solvency Test (SST)
and Solvency ii: The basic principles are identical
·
Solvency ii, the Reinsurance Directive and the
Offshore Financial Centers (OFCs)
·
Case Studies
·
Solvency ii, the Reinsurance Directive and the
USA
·
The US National Association of Insurance Commissioners (NAIC) - the
Organization of State Insurance Regulators and Solvency ii
·
Solvency ii and Regulatory Arbitrage
CLOSING
·
The Impact of Solvency ii outside the EEA
·
The risk for major Offshore Financial Centers - for the countries
and the firms
·
The risk for third country reinsurance undertakings, captives, and
holding companies
·
Providing Insurance Services to the European Client
-
The Level 2 - Technical measures
-
Solvency ii: A risk that can become an opportunity
To learn more
about the online exam you may visit:
www.solvency-ii-association.com/CSiiP_CSiiEP_Frequently_Asked_Questions.pdf
www.solvency-ii-association.com/CSiiP_CSiiEP_Certification_Steps.pdf
The course can be tailored to meet specific needs
|
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Download Our
Brochure about our designation: Certified Solvency ii Professional
(CSiiP)
Download Our Brochure about our designation: Certified Solvency ii
Equivalence Professional (CSiiEP)
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