EIOPA: Solvency II technical specifications
30 April 2014
Technical specifications are divided into 2 parts. The first one covers valuation, standard formula, minimum capital requirement and own funds. The second part covers determination of the risk free interest rate term structure and transitional measure on technical provisions.
A number of simplifications and technical assumptions contained in this document have been made for pragmatic reasons and for the purpose of the preparatory phase only. The technical specifications therefore should not be seen as a complete implementation of the Solvency II framework.
This technical specifications have been drafted to reflect the content of the Directive 138/2009/EC and any amendments already agreed to it by the Omnibus II Directive, the content of the working documents of the (Level 2) Delegated Acts available at the time this document was drafted, and where relevant and necessary for the purpose of clarity, the working document of the (Level 3) Guidelines.
Q&A on EIOPA Technical Specifications
In case of questions on the technical specification for the Solvency II preparatory phase or for the insurance stress test pre-stress balance sheet, participants should contact their National Competent Authority (NCA) as stated in the contact list below. Please always use the Q&A template provided when submitting questions to your NCA as this will ensure a quick processing of your questions.
NCAs and EIOPA are aiming at a response time of maximum five working days during the stress test period, and maximum six weeks during the period remaining until the end of the preparatory phase.
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