Course Title

Solvency ii: Due Diligence for the Board of Directors and Executive Management

Objectives

This course has been designed to provide board members with the knowledge and skills needed:

A. To understand and support compliance with the Solvency ii Directive.

B. To understand their new responsibilities, in order to protect their reputation and wealth and their organization.

C. To understand what is mandated by the Solvency ii directive, and what is just "nice to have".

D. To see Solvency II as a competitive advantage.

Target Audience

This course is intended for board members (executive and non-executive directors) of Insurance and Reinsurance firms, Financial Conglomerates (FC), Financial Holding Companies (FHC), Insurance Holding Companies (IHC) and Mixed Financial Holding Companies (MFHC).

Course Synopsis

Introduction

Overview of the Solvency II Directive and the Technical Measures.

Introduction to the Solvency II Amendments.

The three pillars.

The new important needs after the Solvency II Framework.

Solvency ii: The new Role of the Board of Directors and Executive Management.

Board and Risk Management: The Expectation to Demonstrate in-depth Understanding of the Framework.

The Direct Correlation between Risk and Capital - by Improving the Quality of Risk Management Firms can Reduce the Required Regulatory Capital.

Understanding the Minimum Capital Requirement (MCR) and the Solvency Capital Requirement (SCR)

Do you need an Internal Model? Why? When? At what cost?

Advantages and Disadvantages of the Internal Models. Common Mistakes.

What to Avoid.

Pillar 2 and the Supervisory Review Process (SRP).

Supervision of Insurance and Reinsurance Undertakings in a Group.

Parent Undertakings Outside the Community.

Special Purpose Vehicles after the Solvency II framework.

How Countries and Firms use Solvency ii Compliance as a Competitive Advantage.

Challenges and Opportunities

The Basel iii Accord for Banks and the Solvency ii Directive for Insurance Firms. A Comparative Analysis.

Why the New Capital Rules have a Substantial Impact on Profitability.

Banks with Insurance Subsidiaries. Insurance Firms with Banking Subsidiaries.

The different impact on business from the interaction of Solvency II, Basel III, the Financial Conglomerates Directive (and its possible amendment), the decisions for Systemically Important Financial Institutions (SIFIs) and Global Systemically Important Financial Institutions (G-SIFIs).

The presentation can be customized to meet specific needs.


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