Regulation Standards

Pillar 3 reporting has been the long-neglected aspect of Solvency II and it is now sharply in focus for many firms as they realise the immense effort needed to prepare ahead of 1 January 2016

Ralph Baxter looks at the understated risks inherent within spreadsheets, and demonstrates how these might be tackled.

With Solvency II model applications now in, attention is turning to the strategic implications of the new regime. Simon Woods explores the challenges and opportunities

The European Insurance and Occupational Pensions Authority (EIOPA) has warned against the use of internal models to reduce capital requirements under Solvency II.

The Prudential Regulatory Authority (PRA) has set out draft proposals covering the use of internal and partial internal models to calculate solvency capital requirement (SCR).

The standard formula should be a “good fit” for most UK insurance firms when complying with Solvency II, but firms still need to assess whether it is appropriate, an actuary has warned.

The European Insurance and Occupational Pensions Authority (EIOPA) has called for urgent action from European institutions to provide it with more funding and resources so that it is able to implement the Solvency II directive.

Insurers within the scope of Solvency II can prepare financial statements using local generally accepted accounting principles (GAAP) under certain conditions.

The IFoA has published a policy paper to explain the new legal demands on insurers under Solvency II.

Under the final rules implementing the Solvency II directive, the Prudential Regulation Authority (PRA) has simplified matters in two areas.