CEIOPS sets out implementing measures timeline for Solvency II

04 June 2009

Following the consultation on the first set of advice on Level 2 measures for Solvency II, CEIOPS informs stakeholders on the implementing measures on which CEIOPS will consult in a second and third set.

Following the consultation on the first set of advice on Level 2 measures for Solvency II, CEIOPS informs stakeholders on the implementing measures on which CEIOPS will consult in a second and third set.

 

The list is also available here.

The list reflects the implementing measures contained in the Solvency II Directive on which CEIOPS will provide advice in the coming months; the number of papers can however vary following potential regrouping of issues in the final drafts. The first set of advice was released for consultation on 26 March. (see http://www.ceiops.eu/content/view/14/18/) The titles of the Consultation Papers will be revised before consultation.
	Second set of advice on Solvency II * Consultation  period July- September 2009	Third set of advice on Solvency II * Consultation period November -  December 2009
Pillar I -TP	Article 85 a - TP Methods and statistical techniques for calculating the best estimate (further advice)	Article 92 and 109 l - Own funds and SCR Treatment of participations
Pillar I -TP	Article 85 b - TP Risk free interest rate	Article 99 - Own funds Quantitative limits to the eligibility of own funds
Pillar I -TP	Article 85 c - TP Circumstances in which TP shall be calculated as a whole	Article 99 and 109 ga - Own funds and SCR Treatment of ring fenced funds
Pillar I -Risk Margin	Article 85 d - TP Risk margin	Article 109 a,b, c- Design of the equity risk sub-module, including design of adjustment mechanism (Article 109 c), duration based equity risk module for retirement provision business (Article 305 b)
Pillar I -TP	Article 85 f – TP Data standards and approximations	Article 109 c - SCR Calibration of the market risk module
Pillar I -TP	Article 85 g – TP Counterparty default adjustment	Article 109 c - SCR Calibration of the non-life underwriting risk
Pillar I- OF	Article 97 (a) and (b) - OF List of own funds and methods for approval of own funds not covered by the list	Article 109 d - SCR Correlation parameters, including the procedure for updating the parameters
Pillar I - SCR standard formula	Article 109 a,b,c - SCR Design of the market risk module and sub-modules (currency risk, property risk, interest rate risk, spread risk and concentration risk)	Article 109 i. j - SCR Undertaking specific parameters
Pillar I - SCR standard formula	Article 109 a,b,c - SCR Design of the non-life underwriting risk module and sub-modules (Premium and reserve risk and non-life CAT risk)	Article 85h and 109 k - SCR and TP  Simplifications for TP and SCR
Pillar I - SCR standard formula	Article 109 a,b,c -  SCR Design of the health risk module and sub-modules
Pillar I - SCR standard formula	Article 109 a,b,c  - SCR Design (incl. calibration) of the life underwriting risk module and sub-modules (mortality risk, longevity risk, life catastrophe risk, lapse risk, expenses risk and disability risk)
Pillar I - SCR standard formula	Article 109 a,b,c  - SCR Design of the counterparty default risk module - simplification of LGD
Pillar I - SCR standard formula	Article 109 e - SCR Methods for assessing changes in risk profile
Pillar I - SCR standard formula	Article 109 g - SCR Operational risk
Pillar I - SCR standard formula	Article 109 h - SCR Adjustment for loss absorbing capacity of TP
Pillar I -MCR	Article 128 - Calculation of the MCR (Design of MCR, Notional life and non-life MCR, Quarterly MCR, Calibration of the MCR)
Pillar II	Article 37 - Capital add-on	Article 133.2 - Treatment of securitisation
Pillar III	Article 35 -  Reporting to Supervisors	Article 141 - Extension of the recovery period
Pillar III	Article 55 -  Solvency and Financial Condition Report
Groups	Article 232 - Assessment of group solvency	Article 245 - Groups with centralized risk management
Groups	Article 248 and 249 - Intra group transactions and risk concentrations
Groups	Article 252 and 253 - Cooperation and Colleges of supervisors
	Article 260 - Group solvency and financial report
Internal Models	Article 118 - Use test	Article 112 - Advice on Partial Internal Models
Internal Models	Article 119 - Statistical quality test
Internal Models	Art icle 120 - Calibration standards
Internal Models	Article 121 - Profit and loss attribution
Internal Models	Article 122 - Validation standards
Internal Models	Article 123 - Documentation
	Art icle 124 - External models and data
Internal Models	Article 229  - Adendum on group internal model approval

 

 

 

© CEIOPS