QIS5 exercise is a milestone for the EU Commission, supervisors and industry as its results will provide the essential input for the implementation of Solvency II, including the final calibration of the new solvency capital requirements.
Broad participation of undertakings and groups is a key factor to ensure that current options tested under QIS5 are properly taken forward. CEIOPS is currently taking steps to provide stakeholders including SMEs from all Member States with necessary tools and support. A list of soon to be released supporting material is already available on the QIS 5 webpage.
Among these supporting tools there will be dedicated spreadsheets to help using simplified modelling, translation packages, tools to help handling some of the more intricate risk modelling (i.e. catastrophe risk) etc.
The QIS5 main spreadsheet has been developed by CEIOPS based on the Technical Specifications published by the EU Commission in July 2010 and QIS5 spreadsheets reflect their highly detailed content. Therefore further updates could be needed.
Should that be the case, the updates shall be made available on CEIOPS website on 7 and 21 September and for group aspects only on October 5.
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