|
|
CEIOPS presented the main preliminary results of the QIS4 study on the Solvency II project.
The preliminary results show that although further refinement at Level 2 is needed on specific issues, the industry supports the overall adoption of a risk based supervisory framework for the insurance sector.
The balance sheets of insurance undertakings will not change dramatically, but are characterised by the relative decrease in the amount of insurance liabilities compared to an increase in eligible capital and capital requirements. Capital requirements will also rise as a result of this explicit risk assessment and an increase in the availability of own funds has been noted.
The final report will be presented at CEIOPS’ Annual Conference on
See also the ECON minutes of 22nd September