Ceiops hails Solvency II QIS4 success
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FRANKFURT - The fourth quantitative impact study (QIS4) regarding the proposed Solvency II directive for Europe's insurance industry has been judged a success by its originator, the Committee of European Insurance and Occupational Pensions Providers (Ceiops).
Ceiops says the exercise had an impressive participation rate by Europe's insurance industry, and that the basic architecture of Solvency II seems well received, with wide-ranging improvements made on specific technical details.
One of the main objectives of QIS4 was to collect detailed information on the impact of the testing proposals on the insurance industry's balance sheet. This included a focus on diversification, simplification and unadertaking-specific parameters, transferability of groups' funds, the design and calibration of the minimum capital requirement (MCR), and the comparability of standard formula and internal models for the calculation of the solvency requirements.
The report can be downloaded from the following link:
http://www.ceiops.eu/media/files/pressreleases/Press-Release-QIS4-Report.pdf
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