General Insurance Article - AAE welcomes Omnibus II announcement


 The Actuarial Association of Europe has welcomed another important milestone on the way to full implementation of Solvency II between now and 2016. According to the timeline published by EIOPA the whole regulatory framework of Solvency II can now be developed on a stable and reliable basis. A lot of work lies in the months ahead: on finalising important details at Level 2 and more detailed guidance.

 Solvency II has a major impact on actuaries inside insurers, working in consultancies and also employed by supervisors. The AAE looks forward to continuing involvement with assistance in technical provisions, risk management and capital quantification. The AAE has a particular interest, for the future Solvency II world, in the development of roles of risk management, the actuarial function and the interaction with existing statutory roles at national levels.

 Malcolm Campbell, chairperson of the AAE, stated: “This is an important step in the Solvency II project, and we can now focus on how we best contribute to ensure that Solvency II can be implemented by 2016. The AAE has always supported the introduction and contributed to the development of a new risk-based solvency regime for the insurance industry and will continue to do so”.

Back to Index


Similar News to this Story

Under 30s most likely to suffer poor mental health in winter
The end of winter may be in sight, but its effect on mental wellbeing – especially in younger workers – could have a lasting impact for the rest of th
Car thieves having a field day with keyless access
Insurance industry research body Thatcham Research has today published new security ratings taking into account the vulnerability of vehicles to keyle
DB maturity means consultants must manage the end game
The dawn of a new era for the pensions industry, as defined benefit (DB) schemes reach maturity, is shifting the strategic focus of many schemes to th

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.