The Solvency II Experts News

The European Council and European Parliament are continuing their discussions on the Framework Directive proposal for the future supervisory system. The co-decision procedure means that both sides have to agree for the proposal to be accepted.

 The CRO Forum released a paper on the calculation of Market Value of Liabilities.
 The aim of this paper is to explain in more detail the CRO Forum’s position on the
 topic of the Market Value of Liabilities (MVL) of insurance firms, particularly on how
 it should be defined and parameterised.

 Click here to download a copy of the paper.
 

 

The head of a new pan-European captive insurance association believes there is still time to alter the Solvency II directive before it is scheduled to go before the European Parliament this fall.  Despite comments from the Federation of European Risk Management Associations in Brussels that the time to impact the shape of Solvency II has passed, Günter Dröse, global head of corporate insurance at Frankfurt, Germany-based Deutsche Bank A.G., says it is “absolutely” not too late to influence the process. Click here to read full article (source: bieurope.com)

CEIOPS just issued a report on proxies. The report gives a comparative description of national proxy methods for the evaluation of technical provisions in Solvency II. On the basis of this work, harmonised proxy proposals are being tested in the fourth quantitative impact study (QIS4).

The report provides background information on the Coordination Group’s work and on the testing proposals for QIS4. The report further explores the role of proxies, and discusses application and admissibility criteria in the valuation of technical provisions under Solvency II.

Click here to download the report.