CEIOPS sets out implementing measures timeline for Solvency II

04 June 2009

Following the consultation on the first set of advice on Level 2 measures for Solvency II, CEIOPS informs stakeholders on the implementing measures on which CEIOPS will consult in a second and third set.

Following the consultation on the first set of advice on Level 2 measures for Solvency II, CEIOPS informs stakeholders on the implementing measures on which CEIOPS will consult in a second and third set.

 

The list is also available here.

The list reflects the implementing measures contained in the Solvency II Directive on which CEIOPS will provide advice in the coming months; the number of papers can however vary following potential regrouping of issues in the final drafts. The first set of advice was released for consultation on 26 March. (see http://www.ceiops.eu/content/view/14/18/)
The titles of the Consultation Papers will be revised before consultation.

 

Second set of advice on Solvency II *
Consultation  period July- September 2009

Third set of advice on Solvency II *
Consultation period November -  December 2009

Pillar I -TP

Article 85 a - TP Methods and statistical techniques for calculating the best estimate (further advice)

Article 92 and 109 l - Own funds and SCR Treatment of participations

Pillar I -TP

Article 85 b - TP Risk free interest rate

Article 99 - Own funds Quantitative limits to the eligibility of own funds

Pillar I -TP

Article 85 c - TP Circumstances in which TP shall be calculated as a whole 

Article 99 and 109 ga - Own funds and SCR Treatment of ring fenced funds

Pillar I -Risk Margin

Article 85 d - TP Risk margin

Article 109 a,b, c- Design of the equity risk sub-module, including design of adjustment mechanism (Article 109 c), duration based equity risk module for retirement provision business (Article 305 b)

Pillar I -TP

Article 85 f – TP Data standards and approximations

Article 109 c - SCR Calibration of the market risk module

Pillar I -TP

Article 85 g – TP Counterparty default adjustment 

Article 109 c - SCR Calibration of the non-life underwriting risk

Pillar I- OF

Article 97 (a) and (b) - OF List of own funds and methods for approval of own funds not covered by the list

Article 109 d - SCR Correlation parameters, including the procedure for updating the parameters

Pillar I - SCR standard formula

Article 109 a,b,c - SCR Design of the market risk module and sub-modules (currency risk, property risk, interest rate risk, spread risk and concentration risk)

Article 109 i. j - SCR Undertaking specific parameters

Pillar I - SCR standard formula

Article 109 a,b,c - SCR Design of the non-life underwriting risk module and sub-modules (Premium and reserve risk and non-life CAT risk)

Article 85h and 109 k - SCR and TP  Simplifications for TP and SCR

Pillar I - SCR standard formula

Article 109 a,b,c -  SCR Design of the health risk module and sub-modules

 

Pillar I - SCR standard formula

Article 109 a,b,c  - SCR Design (incl. calibration) of the life underwriting risk module and sub-modules (mortality risk, longevity risk, life catastrophe risk, lapse risk, expenses risk and disability risk)

 

Pillar I - SCR standard formula

Article 109 a,b,c  - SCR Design of the counterparty default risk module - simplification of LGD

 

Pillar I - SCR standard formula

Article 109 e - SCR Methods for assessing changes in risk profile

 

Pillar I - SCR standard formula

Article 109 g - SCR Operational risk

 

Pillar I - SCR standard formula

Article 109 h - SCR Adjustment for loss absorbing capacity of TP

 

Pillar I -MCR

Article 128 - Calculation of the MCR (Design of MCR, Notional life and non-life MCR, Quarterly MCR, Calibration of the MCR)

 

Pillar II

Article 37 - Capital add-on

Article 133.2 - Treatment of securitisation

Pillar III

Article 35 -  Reporting to Supervisors

Article 141 - Extension of the recovery period

Pillar III

Article 55 -  Solvency and Financial Condition Report

 

Groups 

Article 232 - Assessment of group solvency

Article 245 - Groups with centralized risk management

Groups

Article 248 and 249 - Intra group transactions and risk concentrations

 

Groups

Article 252 and 253 - Cooperation and Colleges of supervisors

 

 

Article 260 - Group solvency and financial report

 

Internal Models

Article 118 - Use test

Article 112 - Advice on Partial Internal Models

Internal Models

Article 119 - Statistical quality test

 

Internal Models

Art icle 120 - Calibration standards

 

Internal Models

Article 121 - Profit and loss attribution

 

Internal Models

Article 122 - Validation standards

 

Internal Models

Article 123 - Documentation

 

 

Art icle 124 - External models and data

 

Internal Models

Article 229  - Adendum on group internal model approval

 

 

 

 


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