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The paper sets out the key issues the industry would like to see addressed in the development of possible QIS5 technical specifications and, ultimately, the implementing measures for the proposed Solvency II Framework Directive.
CEA highlights the need for more analysis on the calculation of technical provisions and the calibration of some solvency capital requirement (SCR) models. It also calls for more work to be done on how to apply the proportionality principle in Pillar I.