Solvency II
WHAT IS THIS? Europe’s Solvency II directive came into effect in 2016, putting risk at the heart of a harmonised prudential framework for insurance firms. Similar in outline to the banking industry’s Basel standards, Pillar 1 sets out quantitative requirements; Pillar 2 tackles risk management and governance; Pillar 3 addresses transparency, reporting and public disclosure.
Lack of insurer management action plans exposes governance failings
Most European insurers do not hold Solvency II compliant documentation, finds survey
Solvency II interim reporting requirements were 'too ambitious' - Eiopa
Insurers hail downscaling of regulator’s initial plans, but concerns about consistent application remain
Lithuanian presidency proposes increase to volatility adjuster cap
Benefit could more than triple amid hopes of a deal on Omnibus II long-term guarantees package
Conditional approval of Solvency II internal models should be allowed, urges PRA official
Insurers' efforts to develop internal models should be recognised by supervisors
Van Hulle urges parties to reach agreement in Omnibus II negotiations
Former Solvency II head at European Commission says agreement in the interests of all stakeholders
Operational infrastructure: Under pressure
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EU Council accused of bulldozing over long-term guarantees proposals
German MEP “appalled” by “irresponsible” council as Omnibus II trilogue negotiations resume
We need an agreement on Omnibus II if Solvency II is to be kept on track
Optimism as trilogue discussions recommence, but a long way to go before an agreement is reached
Investment strategy trends in the UK life insurance sector
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Postponed Omnibus II vote casts doubt on Solvency II 2016 launch
European Parliament pushes back vote to March 11 despite positive developments in Omnibus II negotiations
Solvency II reporting dry runs reveal Pillar III challenges
As insurers begin to conduct dry runs of their reporting schedules in preparation for the various conflicting regulations coming into force, it is becoming clear just how difficult compliance is going to be. Clive Davidson reports
More UK insurers to publish economic capital data next year
Firms look to make model outputs publicly available to test investor response to future Solvency II requirements
Optimism as Omnibus II trilogues recommence next week
Over the summer, Omnibus II discussions picked up speed at the EU Council. Draft papers reveal a more generous volatility balancer and extended transitional measures are in the pipeline. Industry representatives believe an agreement is within reach…
EU Council cooks up Solvency II volatility balancer revamp
New volatility adjustment proposed as optimism of trilogue agreement grows
Solvency, GRC and surviving storms at The Hartford
US insurer's op risk head Kay Rahardjo discusses solvency regulations and the lessons learned from 2012's superstorm
UK insurers ‘in limbo’ as HMRC reviews tax break for perpetual debt
Consultation undermines level playing field between banks and insurers on capital issuance
Q&A: NAIC's CEO and president on group supervision, systemic risk and captives
The standard-setters
New Danish solvency rules ‘will increase capital requirements’
Sampension CFO says simplifications welcome but standardisation has drawbacks
Solvency II extrapolation proposals feed volality debate
The European Insurance and Occupational Pensions Authority’s report on the long-term guarantees assessment has reignited the debate on the methodology for determining the risk-fee term structure. The authority’s proposals for a long extrapolation period…
Solvency II interim measures 'misaligned' and 'overly prescriptive' say insurers
Eiopa urged to rein in draft measures in responses to consultation
Insurers protect against Solvency II disqualification with transforming instruments
Aviva and Uniqa hybrids feature capital disqualification triggers
Insurer recovery plans will be key issue in systemic risk debate
Insurance Risk launches updated, interactive iPad app
Commission approves scrapping of extended matching adjustment
Brussels frames Solvency II long-term guarantees debate along the lines of Eiopa’s proposals
Denmark to introduce Solvency II shocks to insurer capital requirements
Firms warn regulator against setting an unduly ambitious timeframe for implementing new standard methodology