August 14th, 2009

Solvency II – Summary of CEIOPS March Consultation Papers: Preview

Posted at 5:00 PM ET

Financial Intelligence Team
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The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) published its first set of Consultation Papers, 12 in all, on Level 2 Implementing Measures on Solvency II in March. These drafts have been developed to expand on the general approach outlined in the Solvency II Directive Proposal that was adopted in December 2008. The second set of 24 papers was published by CEIOPS at the beginning of July. The third set is scheduled for November-to-December 2009. The 10 topics covered by the papers discussed in this series include:

  1. Transparency and Accountability for Supervisors
  2. System of Governance
  3. Technical Provisions — Lines of Business on the Basis of which (Re)Insurance Obligations Are to Be Segmented
  4. Technical Provisions — Elements of Actuarial and Statistical Methodologies for the Calculation of the Best Estimate
  5. Technical Provisions — Assumptions about Future Management Actions
  6. Technical Provisions - Treatment of Future Premiums
  7. Valuation of Assets and Other Liabilities
  8. Criteria for Approval of Ancillary Own Funds
  9. Special Purpose Vehicles
  10. Allowance of Financial Mitigation Techniques

This series will begin on Monday and run for two weeks. Please contact Guy Carpenter’s Financial Intelligence Team with any questions.

Click here to have articles from this series — and others from GC Capital Ideas — delivered directly to you by e-mail.

Click here to read other articles on Solvency II.

Contributors:

  • Susan Witcraft, Managing Director
  • Frank Achtert, Managing Director
  • Iain Boyer, Managing Director
  • Michelle Harnick, Managing Director
  • Dave Lightfoot, Managing Director
  • Scott Lohman, Managing Director
  • Don Mango, Managing Director
  • Eddy Vanbeneden, Managing Director
  • Jeff Bellmont, Senior Vice President
  • Gina Carlson, Senior Vice President
  • Debbie Griffin, Senior Vice President
  • David Flandro, Senior Vice President
  • Benoît Butel, Vice President
  • Sebastien Portmann, Vice President
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