Solutions to major issues for solvency II
joint submission by the CRO Forum and CEA
Response to CEIOPS Second Wave Calls for Advice
This presentation is based upon the consolidated responses of the Chief Risk Officer Forum to CEIOPS-CP-04/05, “Draft Answers to the European Commission on the ‘second wave’ of Calls for Advice in the framework of the Solvency II project.” Support was provided by Mercer Oliver Wyman in the presentation of the results and conclusions.
A framework for Incorporating diversification in the solvency assessment of insurers
The discussions at the European level around the new prudential regime for insurers defined under the banner of Solvency II have gathered pace in recent months. The European Commission sent out the first request for advice in July 2004, to which CEIOPS4 provided a progress update and plan of subsequent work in October 2004.
Benchmarking Study of Internal Models
This study shall provide a benchmark and guidelines towards Solvency II for the insurance regulators to assess internal models. The results of the study are a contribution of the CRO Forum to the Solvency II project. It should foster the discussion about the application of internal risk capital models for legal solvency – both Pillar 1 and 2 – purposes.