New own funds specifications add capital restrictions

Piggy bank

In October the European Insurance and Occupational Pensions Authority (Eiopa) released updated technical specifications for Solvency II valuation and Solvency Capital Requirement (SCR) calculations. Many of the changes bring the specifications in line with the draft level 2 implementing measures that were produced by the European Commission in October 2011. However, in relation to the calculation of an insurer’s own funds, the specifications have gone beyond the draft level 2 text. The