Introduction: Starting the Solvency II Journey
Solvency II: The journey so far
Internal Models and Solvency II
Review of the Capital Adequacy Framework in Singapore
Insurance Liabilities Under IFRS 4 Phase II and Solvency II: Almost the Same Thing?
Solvency II and Mutual Insurance Companies
The Journey Towards an Approved Internal Model
The Road to Solvency II for a Life Insurance Company
Managing Model Risk
Solvency II and Reinsurance
ORSA: A Forward-looking Approach to Risk and Capital Management
Risk Governance: A Framework to Support Better Decision-making and a Journey Towards Continuous Improvement
Operational Risk and Solvency II: A Practitioner Perspective
Reporting Challenges under Solvency II: The Allianz Experience
The Audit of Solvency II Information
The Holistic Balance Sheet: A Different European Approach for Pension Funds?
Capital for Operational Risk: Some Fundamental Flaws
Reputational Risk: Success is Trust-dependent
A European body of comprehensive and uniform regulations on solvency capital and investors’ reporting applicable to the largest insurance market in the world: this is the historical target that the finalisation of the Solvency II reform in the European Union (EU) and the endorsement of a new International Financial Reporting Standard (IFRS) on insurance contracts (IFRS 4 Phase II) could produce within a few years. Both regulations have been through a multi-year laborious process fraught with unexpected protracted delays and changes of direction that, at some point, raised doubts about whether their ultimate objective would ever be achieved.
However, the spring of 2014 seemed to mark a positive turning point in these parallel reforms, and confidence that the standard setting and legislative processes will be completed reached its highest level thus far.
BACKGROUND, OBJECTIVES AND METHODOLOGY
The Solvency II directive has been approved by the European Parliament and Council, and the implementing measures are being produced with the aim to have all relevant provisions approved and published by 2015, in time for the Solvency II regime to be mandatorily effective on January 1, 2016.