06 July 2006

CEIOPS Consultation Papers on Solvency II

CEIOPS issued two Consultation Papers covering principles of Pillar II aspects relevant to the preparation of the Solvency II Level 1 Directive, and on sub-group supervision, diversification effects, cooperation with third countries and MCR and SCR in a group context. The consultation period for both documents runs until 12 September 2006.

Also, at its Members' Meeting in Frankfurt on 29 June, CEIOPS reviewed its Roadmap, and agreed on planning a third round of Quantitative Impact Studies to take place between April and June 2007. CEIOPS planned to issue a Consultation Paper in October 2007.

Consultation Paper No. 13 covers principles of Pillar II aspects relevant to the preparation of the Framework Directive. These concern insurance undertakings’ internal risk and capital assessment (IRCA) requirements, supervisors’ evaluation procedures, and harmonised supervisors’ powers and tools including Pillar II capital add-ons.

Consultation Paper No. 14 covers sub-group supervision, diversification effects and cooperation with third countries. The draft Advice is to be to be taken together with CEIOPS’ answers to the first, second and third waves of Calls for Advice previously submitted to the European Commission.

Press release
Consultation Paper No. 13
Consultation Paper No. 14

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