Events listed in Solvency II
Letter from Dan Curtis: 2023 Thematic review of expected underwriting profit ...
ID 26155
Dan Curtis, the Head of Division from General Insurance Risk Specialists of PRA writes a letter to Chief Risk Officers of general insurance firms regulated by the PRA regarding the key findings from the thematic review. At the moment, many firms seem to assume „increasing underwriting profits within their approved Internal Models (IM)“, which leads to a reduction of SCR without a justification. PRA ...
Solvency II Review – considerations for year-end 2023
ID 26142
The released statement relates to HMT and PRA’s Solvency II reforms to be implemented until the end of 2023 on the reporting and technical measures. Main topics discussed were: – removal of the requirement to submit RSR (put in place starting 31 December 2023) – see eventid=22007 – removal of regulatory returns reporting on certain products, such as structured products or derivative transactions (among ...
New consolidated version: Directive 2009/138/EC of the European Parliament and of ...
ID 24911
A new consolidated version of Directive 2009/138/EC (Solvency II), setting out a comprehensive regulatory framework designed to enhance the stability and solvency of insurance and reinsurance companies within the European Union, was published in the Official Journal (OJ) of the EU. This most recent consolidated version contains the amendments made by Notice 2021/C 423/12 which modified several amounts in the directive for inflation adjustment ...
Asset Management
report / study
EIOPA and ECB call for increased uptake of climate catastrophe insurance
ID 22941
EIOPA and the ECB have released a joint discussion paper entitled Policy options to reduce the climate insurance protection gap, urging for an increase in the uptake of climate-related catastrophe insurance. The joint discussion paper is part of EIOPA’s sustainable finance agenda, aiming to improve the overall understanding of climate-related risk. The discussion paper highlights that currently, only a __quarter of EU climate-related catastrophe ...
Asset Management
report / study
EIOPA’s year-end 2021 study on market and credit risk modelling reveals continuing ...
ID 22656
EIOPA conducts its annual European-wide comparative studies on the modelling of market and credit risks since 2021 and published its YE2021 Comparative Study on Market and Credit Risk Modelling. This report summarizes the key findings from the market and credit risk comparative study (MCRCS) performed in 2022 by a joint project group of National Competent Authorities (NCAs) and EIOPA, based on year-end 2021 data. ...
Nowa wersja metodyki BION dla zakładów ubezpieczeń i zakładów reasekuracji za 2022 ...
ID 22152
The Polish Financial Supervision Authority, KNF, has published an updated version of its annual Supervisory Examination and Evaluation (BION) document which is aimed at insurance and reinsurance undertakings providing them with key information on the KNF’s assessment process and methodology. The document thereby outlines or provides – the key purpose of the BION supervisory examination which is to ensure adequate capital resources and risk ...
Loi portant modification de la loi du 18 septembre 2017 relative à la prévention du ...
ID 21943
The Law of 8 February 2023 amends the Law of 18 September 2017 on the prevention of money laundering and terrorist financing and the limitation of the use of cash. The present Law partially transposes Directive (EU) 2019/2177 of the European Parliament and of the Council of 18 December 2019 on access to insurance and reinsurance activities (Solvency II), EU Directive 2014/65/EC on financial ...