Pensions - Articles - EIOPA issues Solvency II guidelines in official EU languages


The European Insurance and Occupational Pensions Authority (EIOPA) issued the Set 1 of its Solvency II Guidelines in the official languages of the European Union.

 The Guidelines cover the following aspects:
     
  1.   Valuation of Technical provisions and Contract Boundaries;
    2.  
  2.   Ancillary Own Funds, Classification of Own Funds; Ring Fenced Funds and Treatment of related undertakings;
    3.  
  3.   Look-through approach; Basis Risk; Application of Outwards Reinsurance arrangements; Treatment of market and counterparty risk; Application of the life underwriting risk; Health catastrophe risk; Loss Absorbing Capacity of technical provisions and Undertaking Specific Parameters;
    4.  
  4.   Group Solvency;
    5.  
  5.   Application of Internal Models;
    6.  
  6.   Operational functioning of Colleges of Supervisors;
    7.  
  7.   Methodology for Equivalence assessments;
    8.  
  8.   Supervisory Review Process. 
 
 EIOPA Guidelines are addressed to National Competent Authorities (NCAs) or Financial Institutions. Their aim is to ensure common, uniform and consistent application of Union law as well as to establish consistent, efficient and effective supervisory practices drafted by EIOPA in accordance with Article 16 of the Regulation establishing EIOPA.
 
 The Guidelines are in line with the Solvency II Directive and Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 (Delegated Acts), which the Guidelines are aiming to clarify.
 
 In accordance with Article 16 (3) of the EIOPA Regulation, NCAs have to confirm whether they comply or intend to comply with the Guidelines within 2 months of the issuance date.
 
 The Guidelines can be viewed here

Back to Index


Similar News to this Story

Covenant is crucial to any pension schemes risk management
Emily Goodridge, Managing Director, Cardano, a business of Marsh McLennan, said: “Covenant is a crucial element of any pension scheme’s risk managemen
TPR publish first AFS under the new DB funding code
TPR’s first AFS published under the new DB funding code sets expectations for focus on endgame planning. The Pensions Regulator (TPR) expects most sch
Comments on The Pensions Regulators annual funding statement
Initial Comments on The Pensions Regulators Annual Funding statement from Standard Life, PMI, ACA, Broadstone and XPS Group

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.