Solvency II implementing measures
On 2 July 2009, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) issued its second set of draft technical advice on Level 2 Solvency II implementation measures for consultation.
Following on from the first set of consultation papers (“CPs”) released earlier in March this year, this draft advice covers a range of topics across the entire Solvency II spectrum.
We have produced a concise summary of each of this second wave of consultation papers, pulling out the main elements of the advice, along with our view of the key messages and impacts for the UK insurance industry. We hope that you will find it useful.
Please download our Deloitte summary (PDF, 273 KB).
Deloitte has commented on all previously-issued consultation papers and we will continue to express our views to assist CEIOPS in its crucial rule-making activities.
This summary addresses aspects of:
- the Minimum Capital Requirement (MCR)
- the Solvency Capital Requirement (SCR) Standard Formula,
- Internal Model
- Own Funds
- Reporting and
- the Supervisory Review Process.