Solvency II
A new set of regulatory requirements for the European insurance industry
Regulatory Information
View all 'Regulatory Information'Syndicate Workstreams
Overall Approach
Sets out the high level plan in respect of the requirements for managing agents’ preparation for 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
Primary Audience:
Risk management function, Actuarial function, Capital modelling actuaries
Valuation and Balance Sheet
Focuses primarily on the valuation of assets and liabilities, excluding technical provisions.
Primary Audience:
Finance function, Investment managers
Technical Provisions and Standard Formula
This workstream will focus on the calculation of Technical Provisions (TPs) and the Standard Formula SCR.
Primary Audience:
Actuarial function, Finance function
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.
Primary Audience:
Risk management function, Actuarial function, Capital modelling actuaries, IT departments
Governance, Risk Management and Use
Focuses on ensuring the Internal Model is adequately controlled and robust processes and governance structures are in place.
Primary Audience:
Risk management function, risk managers, compliance managers, Internal audit
Reporting and Disclosure
Focuses on the framework, process and systems that agents need to have in place to meet the relevant requirements.
Useful for:
Finance function
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.
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: