CEIOPS issued its further advice on Pillar I issues on the Solvency II project. Generally, the advice in this paper may be seen as an extension to the previous answers providing further detail on specific issues or offering greater clarity where CEIOPS had not yet provided a definitive recommendation.
However, there are several areas where CEIOPS has decided to amend its previous advice in light of the results of QIS1 and 2. In each case, the amendment is clearly indicated and an explanation given as to why deviation from the previous advice is considered necessary.
Broad timetable:
April-June 2007 - Technical specification for QIS3 released, based on the purpose, structure and objectives for the MCR/
SCR outlined in CEIOPS' advice.
October 2007 - Summary of results from QIS3 Consultation paper containing advice on the
MCR and the
SCR standard formula arising from QIS3
Spring 2008 Final advice on the
SCR standard formula delivered to the Commission.
Further advice
Analysis of the comments received
General Remarks
Remarks to Sections 1 and 2
Remarks to Sections 3 and 4
Remarks to Section 5
Remarks to Section 6
Remarks to Sections 7 and 8
Remarks to Sections 9 and 10
Remarks to Annex A
© Graham Bishop
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