Solvency II

A new set of regulatory requirements for the European insurance industry

Syndicate Workstreams

  • Overall Approach

    Risk Assurance Plan and Guidance

    Sets out the high level plan in respect of the requirements for managing agents’ preparation for Solvency II.

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  • Internal Model SCR

    Solvency II: Internal Model SCR

     Internal Model SCR is a dedicated quantitative review of syndicate models and outputs as a key input to the LIM

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    Primary Audience:
    Risk management function, Actuarial function, Capital modelling actuaries

  • Valuation and Balance Sheet

    Solvency II: Validation and Balance Sheet

    Focuses primarily on the valuation of assets and liabilities, excluding technical provisions.

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    Primary Audience:
    Finance function, Investment managers

  • Technical Provisions and Standard Formula

    Solvency II: Technical Provisions and Standard Formular

    This workstream will focus on the calculation of Technical Provisions (TPs) and the Standard Formula SCR.

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    Primary Audience:
    Actuarial function, Finance function

  • Model Validation

    Solvency II: Model Validation

    Focuses on ensuring syndicate models produce an appropriately calibrated SCR and that models are demonstrably compliant with the relevant tests and standards of the Directive.

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    Primary Audience:
    Risk management function, Actuarial function, Capital modelling actuaries, IT departments

  • Governance, Risk Management and Use

    Solvency II: Governance, Risk Management and Use

    Focuses on ensuring the Internal Model is adequately controlled and robust processes and governance structures are in place.

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    Primary Audience:
    Risk management function, risk managers, compliance managers, Internal audit

  • Reporting and Disclosure

    Solvency II: Reporting and Disclosure  Focuses on the framework, process and systems that agents need to have in place to meet the relevant requirements.

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    Useful for:
    Finance function

  • Documentation and Final Application

    Solvency II: Documentation and Final Application  Focuses on ensuring the quality and integrity of the overall LIM application by ensuring that all agents prepare sufficient and appropriate evidence.

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    Useful for:
    Programme managers, Senior Nominated Persons

  • Previous Solvency II Guidance

    Click on the link below to access previous Solvency II Guidance including information on Gap Analysis, Implementation Plans and QIS 5:

    Access previous Solvency II Guidance

  • Model Change

Tools and Resources

  • Market Resources

    Lloyd's BuildingAccess information relating to the syndicate workstreams including workshops, briefings and guidance:

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  • Tutorial

    Solvency II Online TutorialWant to learn more about Solvency II? Our online tutorial is a step-by-step guide to Solvency II:

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  • Glossary

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

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