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Solvency II and SST

Solvency II is the new solvency regime for all EU insurers and reinsurers, which also covers the insurance operation of bancassurers. Due to come into effect in 2012, Solvency II aims to implement solvency requirements that better reflect the risks that companies face and deliver a supervisory system that is consistent across all member states.

In Switzerland, the Swiss Solvency Test (SST) is already in force. The existence of this risk-based solvency system puts Swiss insurers simultaneously in both an advantageous and challenging position. Advantageous in that they are ahead of the rest of Europe with the complex modelling (Pillar 1) requirements of these new risk-based solvency systems. Challenging in that there is an open issue with regards to future possible equivalency with Solvency II and as-yet undefined Pillar 2 and Pillar 3 requirements. These issues leave question marks over future requirements and give challenges for business planning.

The challenge of preparing for and implementing Solvency II and the SST calls for a multi-disciplinary approach. At Deloitte, we are able to provide the required breadth of service expertise to cover all aspects of Solvency II requirements and opportunities, meaning that we can support you through the entire process.

Swiss Solvency Test (SST)

  • The risk based solvency system in Switzerland
    One of the key changes in the Swiss regulatory system is the risk based solvency framework. Indeed, the new guidelines are mandatory for all insurers with legal entities based in Switzerland since 1st January 2008.

Useful links

  • Join our team
  • Submit a request for proposal
  • Contact us

External links

  • The European Commission
    Solvency II pages

Key contacts

  • Andrew Gallacher
    Partner, Actuarial & Insurance Solutions
  • Philipp Keller
    Partner, Head of Insurance Risk Management
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