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
