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Reading Room -
Solvency ii Association
the largest association of Solvency ii
Professionals in the world
Solvency ii News -
February 2010
Solvency ii News -
January 2010
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November
2009
Solvency ii News -
October
2009
Solvency ii News -
September
2009
Solvency ii News -
July
2009
Solvency ii News -
June
2009
Solvency ii News - May
2009
Solvency ii News - April
2009
THE TEXT OF THE SOLVENCY II
DIRECTIVE IN AN EASY TO READ
FORMAT
CEIOPS LEVEL 2 MEASURES
CEIOPS Advice for Level 2
Implementing Measures on Solvency II:
Technical Provisions – Article 86 f Standards for Data Quality,
October 2009
CEIOPS
Advice for Level 2 Implementing Measures on Solvency II: Special
Purpose Vehicles
Final CEIOPS’ Advice for Level 2 Implementing Measures on Solvency
II:
Article 130,
Calculation of the
Minimum Capital
Requirement (MCR)
CEIOPS’ Advice for Level 2 Implementing
Measures on Solvency II:
Own funds - Article 97 and 99 -
Classification and eligibility - Part A
CEIOPS’ Advice for Level 2 Implementing
Measures on Solvency II:
Own funds - Article 97 and 99 -
Classification and eligibility - Part B
CEIOPS’ Advice for Level 2 Implementing
Measures on Solvency II:
Own funds - Article 97 and 99 -
Classification and eligibility - Part C
Architecture of the
Minimum Capital Requirement (MCR)
Minimum Capital Requirement (MCR) -
Pros and cons of
different approaches
Consultation
Paper No 55 - Draft CEIOPS’ Advice (Level 2): Calculation of the MCR
Solvency ii Market Risk
Solvency ii
and Special Purpose Vehicles
PROPORTIONALITY - LEVEL 2
MEASURES
CEIOPS-CP-45/09, 2 July 2009,
Consultation Paper No. 45
1.
Introduction
2.
Advice - Proportionality
3.
Proportionality Assessment – A three step process
4.
Simplified Methods
5.
Reinsurance Recoverables
6.
Annex A: Gross-to-net Techniques
GROUP SOLVENCY - LEVEL 2
MEASURES
Consultation Paper No. 60
Draft CEIOPS’ Advice for Level 2 Implementing Measures on Solvency
II:
Assessment of Group Solvency
1.
Assessment of Group Solvency - Introduction
2.
Level 1 Text
3.
Advice from CEIOPS
4.
Third Countries
5.
Calculation Method
6.
Fungibility and Transferability
7.
Transferability of Own Funds
8.
Calculations
9.
Annex 1 to Annex 5
Colleges of Supervisors
- LEVEL 2
MEASURES
Consultation Paper No. 62
Draft CEIOPS’ Advice for Level 2 Implementing Measures on Solvency
II:
Cooperation and Colleges of supervisors
1.
Colleges of Supervisors - Introduction
2.
Colleges of Supervisors - Advice
3.
Colleges of Supervisors - Membership and Participation in the
College
4.
Colleges of Supervisors - Coordination Arrangements
5.
Colleges of Supervisors - Professional Secrecy and Confidentiality
6.
Colleges of Supervisors - Coordination Cooperation
Life Underwriting
Risk
Consultation Paper No. 49
Draft CEIOPS
Advice for Level 2 Implementing Measures on Solvency II:
Standard formula SCR - Article 109 c, Life
underwriting risk
1.
Introduction to Solvency ii Life Underwriting Risk
2.
Solvency ii Mortality Risk
3.
Solvency ii Longevity Risk
4.
Solvency ii Disability Morbidity Risk
5.
Solvency ii Life Expense Risk
6.
Solvency ii Life Revision Risk
7.
Solvency ii Lapse Risk
8.
Solvency ii Life Catastrophe Risk
Own Risk and Solvency Assessment (ORSA)
The entirety of the processes and procedures
employed to identify, assess, monitor, manage, and report the
short and long term risks a (re)insurance undertaking faces or may
face - and to determine the own funds necessary to ensure that the
undertaking’s overall solvency needs are met at all times.
www.own-risk-and-solvency-assessment.com
Solvency Capital Requirement
According to the Solvency ii Directive, The Solvency Capital
Requirement reflects a level of eligible own funds that enables
insurance and reinsurance undertakings to absorb significant
losses and that gives reasonable assurance to policyholders and
beneficiaries that payments will be made as they fall due.
www.solvency-capital-requirement.com
Minimum Capital Requirement
According to the Solvency ii Directive, when the amount of
eligible basic own funds falls below the Minimum Capital
Requirement, the authorisation of insurance and reinsurance
undertakings should be withdrawn, if those undertakings are unable
to re-establish the amount of eligible basic own funds at the
level of the Minimum Capital Requirement within a short period of
time.
www.minimum-capital-requirement.com
Risk Management and Insurance
Risk Identification, Analysis, Quantification and Management is a
very important part of every Solvency ii project. Solvency II
adopts an economic risk-based approach which allows for a system
that reflects the true risk profile of insurance and reinsurance
undertakings.
www.risk-management-insurance.com
Captive Insurance and Reinsurance Companies
after Solvency ii
These companies provide insurance or reinsurance cover exclusively
for the risks of the undertaking or undertakings to which they belong.
The proportionality principle and the Solvency ii requirements
www.solvency-ii-captives.com
Solvency and
Financial Condition Report
The challenges of Pillar 3, Solvency ii. An annual report covering
essential and concise information on their solvency and financial
condition
www.solvency-and-financial-condition-report.com
Group Support
Regime, Solvency ii
Group support is a commitment (a legally binding declaration) by a
parent undertaking to transfer capital to the subsidiaries if it
is needed, subject to supervisory approval.
www.group-support-regime.com
Mark-to-market, Mark-to-model,
(Mark-to-hope)
Mark-to-market is the valuation of assets at their current market
price.
Mark-to-model is the valuation of assets based on guesswork,
assumptions and financial models.
Both
approaches have advantages and disadvantages
www.mark-to-model.com
Solvency ii
Operational Risk
Operational risk is a neglected area in the insurance and
reinsurance industry that becomes a major concern after the
Solvency ii Directive of the European Union.
www.solvency-ii-operational-risk.com
Solvency ii
Best Estimate
According to Article 76 of the Solvency ii Directive the value of
technical provisions shall be equal to the sum of a best estimate
and a risk margin.
www.solvency-ii-best-estimate.com
Solvency ii Risk
Margin
The risk margin is a buffer above discounted best estimate cash
flows, to protect against worse than expected outcomes. The risk
margin covers risks like modeling uncertainty (model risk),
parameter risk and structural uncertainty.
www.solvency-ii-risk-margin.com
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