Solvency II: QIS4 second workshop underway

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BRUSSELS & BUCHAREST – The second round of discussions for Solvency II’s fourth quantitative impact study (QIS4) are underway in Romania. The talks are hosted by the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops), the European insurance and reinsurance federation (CEA) and Romania’s national insurance body Unsar.

QIS4 has announced a creation of a forum on the CEA website to exchange views. The European Commission (EC) – to which QIS4 is ultimately answerable – has said it would like at least 25% of all European insurance and reinsurance undertakings and 60% of all European insurance groups to participate in the QIS4 exercise.

Solvency II’s timetable envisages the Directive will be adopted by the European Parliament and the Council in 2009 and legislated into member states’ laws by 2012.

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