Solvency II
As part of its contribution to the European Commission's Solvency II project, the Groupe Consultatif has created this dedicated area of its Web site as a focus for discussion on the key issues. Consultation papers from the Commission are available here (see list below), along with responses and other submissions by the Groupe.
The Groupe has established its own Solvency II project team, whose structure and working relationships are described in the first document on the list below. The project team will interact with the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) and other organisations such as the International Actuarial Association (IAA) and the International Association of Insurance Supervisors (IAIS) which are also actively involved in Solvency II.
The structure of CEIOPS' expert working groups which will address in detail the main aspects of Solvency II is reflected by the following working groups established by the Groupe's project team:
- Life (Pillar I)
- Non-Life (Pillar I)
- Internal Models
- Internal Governance, Supervisory Review and Reporting
- Insurance Groupe Supervision
List of documents (most recent first)
2010
- CEIOPS Consultation Paper CP81: draft advice on equivalence assessments 14 July 2010 (zip, 307 KB)
- Solvency II project team - report to Insurance Committee 6 July 2010 (pdf, 103 KB)
- Final QIS5 specifications 6 July 2010 (zip, 2.31 MB)
QIS5 Q & A, and key contacts 16 July 2010 (zip, 87 KB)
QIS5 Qualitative questionnaire 19 July 2010 (zip, 346 KB)
- CEIOPS' Catastrophe Task Force report 11 June 2010 (pdf, 1.36 MB)
- Solvency II project team - report to Insurance Committee 1 June 2010 (pdf, 103 KB)
- Groupe comments on draft QIS5 specifications 20 May 2010 (zip, 96 KB)
- Solvency II project team - report to Insurance Committee 5 May 2010 (pdf, 101 KB)
- Draft QIS5 specifications 15 April 2010 (zip, 10 MB)
- CEIOPS' final Advice for Level 2 implementing measures: Technical criteria for assessing 3rd country equivalence 1 April 2010 (zip, 1.95 MB)
- CEIOPS' Level 3 guidance on the pre-application process for internal models (formerly CP80) 31 March 2010 (pdf, 776 KB)
- Solvency II project team - report to Insurance Committee 5 March 2010 (pdf, 136 KB)
- Solvency II project team - report to Insurance Committee 2 February 2010 (pdf, 138 KB)
- CEIOPS advice to European Commission on third wave of Consultation Papers (CP63-CP79) 29 January 2010 (zip, 20.2 MB)
- Cover letter 29 January 2010 (pdf, 93 KB)
- Feedback statement 29 January 2010 (pdf, 201 KB)
- CEIOPS Consultation Paper CP80: draft L3 guidance on the pre-application process for internal models 28 January 2010 (zip, 682 KB)
- Solvency II project team - report to Insurance Committee 5 January 2010 (pdf, 128 KB)
2009
- Groupe response to CEIOPS Consultation Papers CP63-CP79
11 December 2009 (zip, 613 KB)
- Text of Solvency II Directive (2009/138/EC) 25 November 2009 (pdf, 1.7 MB)
- Joint CEIOPS/Groupe Consultatif coordination group Report on use of insurance market data in the valuation of technical provisions 12 November 2009 (pdf, 400 KB)
- CEIOPS' advice to European Commission on
Consultation Papers CP26-CP62 10 November 2009 (zip, 12.4 MB)
- Feedback statement on CP26-CP62 10 November 2009 (pdf, 283 KB)
- Cover letter on CEIOPS' advice on CP26-CP62 10 November 2009 (pdf, 92 KB)
- Solvency II project team - report to Insurance Committee November 2009 (pdf, 107 KB)
- CEIOPS Consultation Papers CP63-CP79: draft advice on Solvency II Level 2 implementing measures - third wave 2 and 30 November 2009 (zip, 11.0 MB)
- Cover letter on CEIOPS Consultation Papers CP63-CP79 2 November 2009 (pdf, 95 KB)
- Solvency II project team - report to Insurance Committee October 2009 (pdf, 103 KB)
- Submission to CEIOPS on professional standards for the Actuarial Function under Solvency II, and Press Release 29 September 2009 zip, 195 KB)
- Solvency II project team - report to Insurance Committee September 2009 (pdf, 216 KB)
- Groupe response to CEIOPS Consultation Papers CP37A and CP39-CP62
11 September 2009 (zip, 981 KB)
- Solvency II project team - report to Insurance Committee August 2009 (pdf, 112 KB)
- Solvency II project team - report to Insurance Committee July 2009 (pdf, 110 KB)
- CEIOPS Consultation Papers CP39-CP62: draft advice on Solvency II
Level 2 implementing measures updated 23 July 2009 (zip, 7.6 MB)
CP59 | Revised CP47 | Revised CP49 | Revised CP55 - Cover letter on CEIOPS Consultation Papers CP39-CP62 2 July 2009 (pdf, 88 KB)
- Solvency II project team - report to Insurance Committee June 2009 (pdf, 105 KB)
- Groupe responses to CEIOPS Consultation Papers CP26-CP37 May/June 2009 (zip, 185 KB)
(Note: no responses were submitted to CP34 and CP36).
-
CEIOPS ISGRR Feedback Statement on Issues Paper on Sysytem of Governance
19 May 2009 (pdf, 96 KB)
- Solvency II project team - report to Insurance Committee May 2009 (pdf, 28 KB)
- Solvency II Directive - final version approved by European Parliament 22 April 2009 (pdf, 830 KB)
- CEIOPS Consultation Papers CP26-CP37: draft advice on Solvency II Level 2 implementing measures 26 March 2009 (zip, 2.5 MB)
- Report by CEIOPS on Lessons to be learned from the crisis - Solvency II and Beyond 26 March 2009 (pdf, 205 KB)
- CEIOPS - Groupe Consultatif coordination group - Valuation of the non-life Best Estimate using simplified methods - Issues to consider regarding level 2 measures 10 March 2009 (pdf, 456 KB)
- Letter from CEIOPS' Consultative Panel to European Parliament rapporteur on importance of adopting Solvency II Directive 11 March 2009 (pdf, 50 KB)
- Solvency II project team - report to Insurance Committee March 2009 (pdf, 26 KB)
- Groupe response to CEIOPS' request for advice on L2 implementing measures for groups' SCR 27 February 2009 (pdf, 64 KB)
- Draft Groupe report to CEIOPS on Internal Models 16 February 2009 (pdf, 201 KB)
- Response to CEIOPS' request for further advice on issues raised in Groupe's report on best estimates (incl country comparison) 4 February 2009 (zip, 226 KB)
- Solvency II project team - report to Insurance Committee February 2009 (pdf, 29 KB)
- Report by CEIOPS on the outcome of the stock-taking exercise on the current use of internal models in insurance 2 January 2009 (pdf, 573 KB)
- Groupe's response to CEIOPS' issues paper on Implementing Measures on System of Governance 12 January 2009 (pdf, 64 KB)
- CEIOPS' Internal Governance Supervisory Review and Reporting Expert Group (IGSRR) work programme 2009 9 January 2009 (pdf, 45 KB)
- CEIOPS' survey on equalisation provisions 9 January 2009 (pdf, 138 KB)
- CEIOPS' Insurance Groups Supervision
Committee (IGSC) work programme 2009
8 January 2009 (pdf, 52 KB)
- Solvency II project team - report to Insurance Committee January 2009 (pdf, 30 KB)
2008
- CEIOPS' Internal Models Expert Group (IMEG) work programme 2009 23 December 2008 (pdf, 34 KB)
- CEIOPS' Financial Requirements (FINREQ) work programme 2009 22 December 2008 (pdf, 68 KB)
- CEIOPS' request for further advice on issues raised in Groupe's report on best estimates 17 December 2008 (pdf, 512 KB)
- CEIOPS'
request for advice on L2 implementing measures for groups' SCR
11 December 2008 (pdf, 38 KB)
- Solvency II project team - report to Insurance Committee December 2008 (pdf, 30 KB)
- Commission draft Call for Advice to CEIOPS
on Level 2 implementing measures
4 December 2008 (zip, 533 KB)
- CEIOPS'
report on QIS4 19 November 2008 (pdf, 2.75 MB)
Annexe of selected tables to report on QIS4 (pdf, 1.33 MB)
- Groupe's response to CEIOPS' issues paper on Supervisory Review Process and Undertakings’ Reporting Requirements 12 November 2008 (pdf, 25 KB)
- Groupe's interim report to CEIOPS' on Valuation of Best Estimate under Solvency II in Non-Life Insurance 11 November 2008 (pdf, 257 KB)
- CEIOPS' feedback to respondents on ORSA Issues Paper 6 November 2008 (pdf, 72 KB)
- Solvency II project team - report to Insurance Committee November 2008 (pdf, 36 KB)
-
CEIOPS' Issues Paper on Implementing Measures in the System of
Governance
4 November (zip, 253 KB)
- Solvency II project team - report to Insurance Committee October 2008 (pdf, 28 KB)
- Final Report by European Parliament rapporteur on proposed Solvency II Directive October 2008 (pdf, 377 KB)
- Solvency II project team - report to Insurance Committee September 2008 (pdf, 33 KB)
- Groupe's response to CEIOPS' issues paper on Own Risk and Solvency Assessment (ORSA) 27 August 2008 (pdf, 52 KB)
- CEIOPS' Report on Valuation Issues (regarding the valuation of structured credit products) 19 August (pdf, 219 KB)
- CEIOPS' Issues Paper on the Supervisory Review Process and Undertakings’ Reporting Requirements 18 August (zip, 400 KB)
- Newsletter by Groupe's Solvency II project team - Issue 12 August 2008 (pdf, 64 KB)
- Final report by joint Groupe-CEIOPS Coordination Group on Proxies 17 July 2008 (zip, 407 KB)
- CEIOPS' final advice to the European Commission on The principle of proportionality (CP24) 28 May 2008 (zip, 577 KB)
- CEIOPS' draft advice to the European Commission on Measures to facilitate the effective supervision of groups (CP25) 28 May 2008 (zip, 1.16 MB)
- CEIOPS' issues paper on Own Risk and Solvency Assessment (ORSA) 27 May 2008 (pdf, 123 KB)
- CEIOPS
- Full details of QIS4 exercise updated 10 July 2008
(zip, 3.76 MB)
Spreadsheet for solo entities updated 31 July 2008 (zip, 4.77 MB)
Spreadsheet for groups updated 13 August 2008 (zip, 1.81 MB)
- Response to CEIOPS Consultation Paper CP24 April 2008 (pdf, 19 KB)
- Response to CEIOPS Consultation Paper CP25 April 2008 (pdf, 31 KB)
- Newsletter by Groupe's Solvency II project team - Issue 11 March 2008 (pdf, 60 KB)
- European Commission - Amended proposal for the Solvency II framework Directive February 2008 (pdf, 1.6 MB)
- CEIOPS' draft advice to the European Commission on The principle of proportionality (CP24) 25 February 2008 i
- Amended annex to CP24 (proxies and simplifications contained in the QIS4 technical specifications) 10 April 2008 (pdf, 231 KB)
- CEIOPS' draft advice to the European Commission on Measures to facilitate the effective supervision of groups (CP25) 25 February 2008 (pdf, 424 KB)
For documents before 2007 please contact the Secretariat
2007
- CEIOPS Draft QIS4 technical specifications. 21 December 2007 (zip, 1.26 MB)
- CEIOPS Consultation Paper CP23 - Interim Report on Proxies 21 December 2007 (pdf, 507 KB)
- CEIOPS Report on MCR pros and cons. 21 December 2007 (pdf, 178 KB)
- Groupe presentation to ECON Committee of European Parliament. 18 December 2007 (pdf, 74 KB)
- Newsletter by Groupe's Solvency II project team - Issue 10 November 2007 (pdf, 141 KB)
- Report on QIS3. 21 November 2007 (pdf, 1.1 MB)
- CEIOPS Issues Paper - Public Disclosure and
Supervisory Reporting.
1 November 2007 (pdf, 123 KB)
- Work plan for Solvency II deliverables 2007-2012. 24 September 2007 (pdf, 84 KB)
- Letter from European Commission to CEIOPS regarding further work on Solvency II 19 July 2007 (pdf, 476KB)
- Reply from CEIOPS to European Commission 27 July 2007 (pdf, 72 KB)
- CEIOPS Issues Paper on Risk Management and other Corporate Issues 17 July 2007 (pdf, 193 KB)
- European Commission - Framework Directive for Solvency II 10 July 2007 (pdf, 1.57 MB)
- Newsletter by Groupe's Solvency II project team - Issue 9 June 2007 (pdf, 129 KB)
- Initial Groupe comments on draft texts for Solvency II framework Directive 13 April 2007 (zip, 72 KB)
- European Commission - draft texts for Solvency II framework Directive 29 March 2007 (link to members-only page)
- CEIOPS' specifications for QIS3 updated 25 June 2007 (zip, 3.75 MB)
- QIS3 - additional calibration paper 19 April 2007 (pdf, 348 KB)
- CEIOPS' Questions and Answers on QIS3 updated 26 June 2007 (pdf, 318 KB)
- Errata to technical specifications for QIS3 updated 14 June 2007 (pdf, 310 KB)
- CEIOPS' advice to European Commission in the light of Consultation Paper CP20 March 2007 (zip, 4 MB)
- CEIOPS' advice to European Commission in the light of Consultation Paper CP19 March 2007 (zip, 378 KB)
- CEIOPS' advice to European Commission in the light of Consultation Paper CP18 March 2007 (zip, 375 KB)
- CEIOPS' advice to European Commission in the light of Consultation Paper CP17 March 2007 i
- CEIOPS' advice to European Commission in the light of Consultation Paper CP16 March 2007 (zip, 248 KB)
- CEIOPS' advice to European Commission in the light of Consultation Paper CP15 March 2007 (zip, 448 KB)
- CEIOPS letter to EU Commission on QIS319 March 2007 (pdf, 30 KB)
- Joint Groupe Consultatif / CEA Solvency II Glossary March 2007 (pdf, 1.07 MB)
- IAA Exposure Draft on Measurement of Liabilities of Insurance Contracts: Current Estimates and Risk Margins February 2007 (zip, 710 Kb)
- Newsletter by Groupe's Solvency II project team - Issue 8 February 2007 (pdf, 61 Kb)
- Report by CEIOPS to the Commission on the impact of Solvency II on supervisory authorities February 2007 (pdf, 131 KB)
- Letter from Commission to CEIOPS about QIS3 February 2007 (pdf, 167 KB)
- Conclusions and presentations from CEIOPS' Consultative Panel, 18 January 2007 February 2007 (zip, 892 KB)
- Response to CEIOPS Consultation Paper CP20 January 2007 (pdf, 56 KB)
- Response to CEIOPS Consultation Papers CP15 - CP19 January 2007 (pdf, 24 KB)
- Invitation from CEIOPS to advise and assist with development of practical solutions for a proxy approach to best estimates for non-life technical provisions January 2007 (pdf, 106 KB)