CEIOPS Draft Answers on third wave of Calls on Solvency II

09 December 2005

The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) issued its Draft Answers to the European Commission on the third wave of Calls for Advice on Solvency II. These draft answers include aspects of the forthcoming prudential system for insurance and reinsurance undertakings related to financial requirements (Pillar I), supervisory review process (Pillar II) as well as disclosure and reporting (Pillar III).

The European Commission has requested CEIOPS to advice on the development of a new solvency system to be applied to life insurance undertakings, non-life insurance undertakings and reinsurance undertakings in the EU.

Due to the increase in Consultation Papers expected in 2006, CEIOPS considers it necessary to shorten the consultation period under its consultation policy to two months.

Deadline for comments is 9 February 2006.

Draft answers

© CEIOPS