Solvency2

About the Course

INTRODUCTION

• The European Union’s Legislative Process. Directives and Regulations
• The Financial Services Action Plan (FSAP) of the EU
• Solvency II Key Players
• Committee of European Insurance and Occupational Pension Supervisors (CEIOPS)
• European Insurance and Pension Committee (EIOPC)
• CEA (Comité Européen des Assurances) - the EuropeanInsurance and ReinsuranceFederation.
• The International Association of Insurance Supervisors (IAIS)

OVERVIEW OF THE SOLVENCY II DIRECTIVE

• Solvency ii: An Overview
• A Risk Based Approach
• A Unified Legislative Basis for Prudential Regulation of Insurers and Reinsurers
• Risk-Based Capital Allocation

• Pillar 1: The Financial Resources Needed to be Considered Solvent
• The Solvency Capital Requirement (SCR)
• The Standard Approach
• The Internal Model
• The Collection of Additional Historical Data
• External Data
• The IT Challenge
• The Minimum Capital Requirement (MCR)

• Pillar 2 and the Supervisory Review Process
• Own Risk and Solvency Assessment (ORSA)
• ORSA as an internal assessment process
• ORSA as a supervisory tool
• The role of the ORSA - not a third solvency capital requirement

• Pillar 3 and the Disclosure Requirements
• Solvency and Financial Condition Report

THE SOLVENCY II DIRECTIVE

• Scope of the Application
• Authorisation
• Discussing some important definitions

• General principles of supervision
• Home vs. Host country
• Information to be provided for supervisory purposes
• Capital Add-on

• System of Governance
• General Governance Requirements
• Risk Management
• Internal Controls
• Internal Audit
• Actuarial Function
• Outsourcing
• Own Risk and Solvency Assessment
• Own Risk and Solvency Assessment and CEIOPS

• Public Disclosure
• Professional Secrecy and Exchanges of Information
• Agreement with Third Countries

• Rules Relating to the Valuation of Assets and Liabilities, Technical Provisions, Own Funds, Solvency Capital Requirement, Minimum Capital Requirement and Investment Rules
• Valuation of Assets and Liabilities
• Calculation of Technical Provisions
• Recoverables from Reinsurance Contracts and Special Purpose Vehicles
• Own Funds
• Determination, Classification, Eligibility of Own Funds

• Solvency Capital Requirement
• Requirement Using the Standard Formula or an Internal Model
• Value-at-Risk
• The SCR and the Value-at-Risk Measure Calibrated to a 99.5% Confidence Level over a 1-year Time Horizon.
• Calculation of the Solvency Capital Requirement
• Structure of the Standard Formula
• Design of the Basic Solvency Capital Requirement
• Capital requirement for operational risk

• Full and Partial Internal Models
• Calculation of the Minimum Capital Requirement
• Insurance and Reinsurance Undertakings in Difficulty or in an Irregular Situation

• Calculation methods
• Method 1 (Default method): Accounting Consolidation-Based Method
• Group Internal Model
• Method 2 (Alternative Method): Deduction and Aggregation

• Third countries
• Parent Undertakings Outside the Community - Verification of Equivalence
• Parent Undertakings Outside the Community - Absence of Equivalence
• Parent Undertakings Outside the Community - Levels
• Cooperation with Third Countries Supervisory Authorities

Registration Details

Course Fee:
Single Nomination:
USD 250/- OR INR 10000/-

Avail Special Discounts Avail Special Discounts Avail Special Discounts
5% Discount for Early Bird Registrations (15 Days in advance to the program date) 5% Discount on Task force of 4 to 7 10% Discount on task Force of 8 and above

NOTE: Only one discount option is applicable at any time

Contact Details:

Mr. Vijay Bhaskar Reddy

Mobile: 0 94400 89341

Phone: 040-6456 8797

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