STATISTICS:

EIOPA consults on a second set of Advice for the Review of the Solvency Capital Requirements

At the beginning of November, the European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on a second set of Advice for the review of the Solvency Capital Requirement (SCR) of Solvency II as foreseen in the Directive and its Delegated Acts.

The consultation focuses on the remaining elements in the review of the SCR standard formula not covered by the Advice submitted to the European Commission on 30 October 2017.

With this consultation, EIOPA continues the important Solvency II review process with the aim to ensure a proportionate and technically robust, risk-sensitive and consistent supervisory regime for the insurance sector, as well as to propose possible simplifications.

EIOPA is consulting on overarching aspects of the SCR standard formula and soliciting stakeholder feedback on key sub-modules such as the loss-absorbing capacity of deferred taxes calculation, the calculation of non-life and life underwriting risks, catastrophe risks, unrated debt and unlisted equity and other topics such as cost of capital in the calculation of the risk margin.

The outcome of the consultation will result in the second set of Advice to be submitted to the European Commission by end-February 2018. The consultation period ends on Friday, 5 January 2018.

The consultation paper and the template for comments can be viewed here.

Related articles

SCOR Global Life establishes a new Executive Leadership Team

SCOR Global Life announces the creation of a new Executive Leadership Team. Continuing the implementation of the "Vision in Action" strategic plan, this new organization reinforces SCOR Global Life's customer-centric and value creation focus.

2017-11-23

"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference

The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.

2017-11-22

Reputation of travel insurers affected by flight operators

The travel insurance industry has perennially suffered from a lack of customer awareness around policy terms, and is currently facing issues surrounding customer satisfaction, according to the research and consulting firm GlobalData.

2017-11-15
photodune-3834701-laughing-girl-xs

"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.

2017-11-14

ON THE MOVE

TOP EVENT

"Insurance and Pensions reloaded" - the 7th EIOPA Annual Conference

The 7th EIOPA Annual Conference takes place today in Frankfurt am Main, Germany. A review of the current supervisory covergence issues and of the prospects of the Pan European Personal Pension Product are on the event's agenda, together with analyzing the ways in which regulation may enable innovation.

22.11.2017

photodune-3834701-laughing-girl-xs

"IIF2017 - Insurance in the DIGITAL World" Conference took place in Vienna

"IIF2017 - Insurance in the DIGITAL World" conference brought together in Vienna well-known insurance professionals from all over the world who analyzed the latest digital trends in the industry, taking into account the fast digitalization of the financial services providers' world, in particular in the insurance field, which is creating both huge opportunities and strong challenges for the players.

14.11.2017

photodune-3834701-laughing-girl-xs

Croatian Insurance Days Live

On 9 November has started in Opatija, Croatia, the 2017 edition of the Croatian Insurance Days Conference, the traditional meeting of the Croatian insurance top professionals with their European peers. XPRIMM Publications are supporting the event as Media Partners.

09.11.2017

photodune-3834701-laughing-girl-xs

The 2017 Baden Baden Meeting: Short recap

The Baden-Baden meeting, one of the key events in the reinsurance calendar, has just set the final point of this year's edition. XPRIMM Publications have reported from the meeting's premises. Let's recap!

26.10.2017

Baden Baden Headlines 3: CEE insurance markets are attractive for reinsurers

Central and Eastern Europe insurance markets are an important source of business for Lloyds, total premium income from this region increasing by EUR 64 million since 2010, pointed out the Lloyd's representative in a seminar dedicated to CEE insurance markets: "We are seeing strong growth from Czech Rep, Poland, Slovakia and Ukraine. At the same time are some contractions from Russia, Bulgaria, Romania and Hungary due to challenging trading conditions as political implications and other sanctions".

25.10.2017

Baden Baden Headlines 2: cyber insurance market set to grow under regulatory presure; nat cat events more frequent, but losses per event are decreasing

Asian insurance market, especially the Indian market - are considered to be "the new El-Dorado" of the global re/insurance market, with rapidly expanding markets and an dynamic environment: "Indian P&C re/insurance markets are expected to grow at a pace of 15% per annum", according  to Victor PEIGNET, CEO, Global P&C, SCOR SE. The French -based reinsurer setted-up its Indian branch in 2016, after the authorisation from the local market authority - IRDAI. India's re/insurance market has become more attractive for global companies following the relaxation of regulatory requirements, and lately, "big names" in the industry entered the market by opening branches: GEN Re, SCOR, Lloyd's of London, MUNICH Re, SWISS Re, Reinsurance Group of America (RGA), HANNOVER Re, XL Catlin and others.

24.10.2017

BB Headlines: Rates are settled to increase following Q3 events

The main effect after the Q3 nat cat bill of over USD 100 billion: Global reinsures said - the "discounts and reductions in tariffs era" especially in European reinsurance market for the January 2018 renewals, will come to end. At the same time, some reinsurers might disappear and there are likely to be more mergers, acquisitions and run-offs processes.

23.10.2017

See all