Home > Services > Insurance Consulting > Solvency II
Solvency II
Solvency II should be at the top of the agenda for insurance companies, reinsurers and friendly societies across the EU. Board members and senior management should ensure that they know what is required of them between now and the Solvency II implementation date of October 2012.
Barnett Waddingham’s Insurance Consulting Practice can offer advice on Solvency II that is targeted to your firm’s needs. We can produce reading lists tailored to your firm’s business, and we can offer assistance in performing a gap analysis, implementing processes and controls compliant with Solvency II, catching up on Quantitative Impact Study 4 or preparing to undertake the forthcoming Quantitative Impact Study 5.
For more information on these services please contact Rajeev Shah, John O'Neill or Richard Weatherill.
You can find out more about the latest Solvency II developments in our series of recent publications:
Solvency II: Final Advice on Level 2 Implementing Measures
Throughout 2009, CEIOPS (the Committee of European Insurance and Occupational Pensions Supervisors) consulted on the “Level 2 Implementing Measures” of Solvency II, and their final advice has now been published. This brochure is a summary for Board members, senior managers, actuaries and other insurance practitioners with responsibility for Solvency II implementation. We set out the key issues, and indicate where to start reading about the topics that matter for your business.
Solvency II Third Round of CEIOPS Consultation Papers
In November 2009, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) issued its third set of consultation papers (CPs63-79) on the Solvency II Level 2 text. The consultation period ended on 11 December 2009 for all except CP78 where the closing date was February 2010. To view our publication, which provides a summary of the papers with a few thoughts on issues and next steps to take, please click on the link above.
Solvency II Directive
After a lot of negotiation and amendments, the Solvency II Directive has now been approved by the European Commission, European Parliament and European Council and it must be implemented by national governments by 31 October 2012. The FSA are keen to ensure that UK insurers start thinking now about how Solvency II will impact them and have published Discussion Paper 08/4 "Insurance Risk Management: The Path to Solvency II" followed by Feedback Statement 09/01.