/

Nematrian Reference Library

[this page | back links]

Set out below is information (held by the Nematrian website) on the reference you have selected

Pages on this website that contain links to this reference include SolvencyII_Correlations, SolvencyII_Counterparty, SolvencyII_CounterpartyCorrelations, SolvencyII_CounterpartyLGD, SolvencyII_CounterpartyType1, SolvencyII_CounterpartyType2, SolvencyII_LifeCatastrophe, SolvencyII_LifeCorrelations, SolvencyII_LifeDisability, SolvencyII_LifeExpense, SolvencyII_LifeLapse, SolvencyII_LifeLongevity, SolvencyII_LifeMortality, SolvencyII_LifeRevision, SolvencyII_Mkt, SolvencyII_MktConcentration, SolvencyII_MktCorrelations, SolvencyII_MktCurrency, SolvencyII_MktEquity, SolvencyII_MktInt, SolvencyII_MktProperty, SolvencyII_MktSpread, SolvencyII_RiskMargin, SolvencyIIIntro, SolvencyIITools and SystemicRiskReferences4

EXPLANATORY MEMORANDUM: CONTEXT OF THE DELEGATED ACT: General background and objectives "Directive 2009/138/EC ('Solvency II'), as amended by Directive 2014/51/EU ('Omnibus II'), is due to become applicable on 1 January 2016 and replace 14 existing directives (commonly referred to as 'Solvency I'). It will introduce a modern, harmonised framework for the taking-up of business and supervision of insurance and reinsurance undertakings in the Union. The Solvency II Directive provides for a maximum harmonising regime, based on the three following pillars: - Pillar 1: Harmonised valuation and risk-based capital requirements, - Pillar 2: Harmonised governance and risk management requirements, - Pillar 3: Harmonised supervisory reporting and public disclosure. Solvency II introduces economic risk-based capital requirements across all EU Member States for the first time. These new capital requirements will be more risk-sensitive and more sophisticated than in the past, thus enabling a better coverage of the real risks run by any particular insurer. The new requirements move away from a crude 'one-model-fits-all' way of estimating capital requirements to requirements that better fit insurers' risk profiles. Solvency II also puts a greater focus on risk management, as well as introducing stricter rules on the disclosure of certain information publicly. The present Delegated Regulation aims at specifying more detailed requirements for individual undertakings as well as for groups. It will make up the core of the single prudential rulebook for insurance and reinsurance undertakings in the Union."

See here to choose a new Category/Sub-Category or here for a list of all references held by the Nematrian website. Please contact us if any of the above material is inaccurate or if there are references you think should be included that we have excluded or vice-versa.

---