Solvency II

Duration: 1 Day

Location: Ibec, 84 - 84 Lower Baggot Street, Dublin 2

Full Fee: €595

Network Members Fee: €475

Programme overview

Solvency II is a fundamental and wide-ranging reform of EU insurance. The aims of solvency II include: greater risk awareness in insurance companies, enhanced protection for policyholders, greater competitiveness between EU insurers, and a deeper single insurance services market across the EU. Like the Basel III Capital Accord, Solvency II is based on a three pillars approach. Pillar I covers regulatory capital requirements, Pillar II deals with governance and supervision, while Pillar III outlines standards for disclosure and transparency. The new regime also establishes the European System of Financial Supervision (ESFS), a two-tier framework of micro- and macro-level surveillance for financial supervision.

Learning Outcomes

On completion of this tutorial, you will be able to:

  • provide a broad overview of the Solvency II regime
  • Detail the different requirements of the regime’s three ‘pillars’

Who should attend

This course is relevant to any one working in the Insurance/Reinsurance industry in Ireland.

The programme can also be tailored to the needs of:

  • Risk
  • Company Valuation Teams
  • Finance
  • Corporate Bankers

Course Content

  • Pillar 1 consists of the quantitative requirements (for example, the amount of capital an insurer should hold).
  • Pillar 2 sets out requirements for the governance and risk management of insurers, as well as for the effective supervision of insurers.
  • Pillar 3 focuses on disclosure and transparency requirements.

Introduction

  • Aims of S II
  • The three pillars
  • Basics of insurance accounting
  • Impact on life insurance companies
  • Impact on general insurers

Case study 1 – Failed insurers – key lessons

Pillar I

  • Capital requirements
  • SCR
  • MCR

Case study 2 – Calculating capital adequacy

Pillar II

  • Corporate Governance
  • Risk management

Case study 3 – AIG

Course wrap up – Market trends and prospects

Trainer Profile