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Previous Solvency II Guidance

Access previous Solvency II Guidance including information on Gap Analysis, Implementation Plans and QIS 5.

Regulatory Information

View all 'Regulatory Information'

Lloyd’s letter dated 11 March, 2009 asked each managing agent to complete its own gap analysis and to submit it to Lloyd’s by 30 June 2009. To assist the market in developing their gap analysis and implementation plans, Lloyd’s published Guidance Notes and a Gap Analysis template, developed with input from the LMA.

Guidance notes

Gap analysis template 

The implementation plan can be defined at a high level as a document/set of documents that demonstrate good organisation and control of the change programme to meet Solvency II requirements. The degree of complexity and detail required will depend on the scope and complexity of the changes being delivered, as well as the size of the syndicate and/or agent.

To assist the market in preparing implementation plans Lloyd's issued guidance and templates in November 2009. As a minimum, Lloyd’s requires agents' implementation plans to cover the following areas:

  • programme structure and governance, including details of how progress will be monitored
  • overall programme plan
  • specific workstream/project plans showing tasks, dates and responsibilities
  • delivery timetable for 2010, 2011 and 2012
  • resource and budget implications
  • evidence that gaps identified in the gap analysis have been addressed together with any feedback received from Lloyd’s/FSA


Managing agents should also ensure that they consider the requirements laid down in the dry-run requirements document. 

SII and Risk Assurance

2015 Guidance and Plan

Sets out Risk Assurance information for managing agents on the published 2015 timetable and the individual deliverables included.

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2015 Timetable

Sets out Risk Assurance information for managing agents on the published 2015 timetable and the individual deliverables included.

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Tools

Tutorial

Want to learn more about Solvency II? Access our interactive online Solvency II tutorial.

Glossary

Our Solvency II glossary simplifies some of the key terms relating to Solvency II.