Solvency ii Training

Description:
Course Title
Preparing for the Solvency ii and the Reinsurance directives: Implementation and Compliance Training

Objectives:
The seminar has been designed to provide with the knowledge and skills needed to understand and support compliance with both, the Solvency ii and the Reinsurance directives

Target Audience:
This course is intended for managers and professionals from:

Compliance
Legal
Risk Management
Internal Audit
Errors and omissions avoidance
Clients
Advisers
Underwriters
IT
Risk and Management Consultants

This course is recommended for the directors, managers and professionals who not only require a clear understanding of Solvency ii and the Reassurance directives, but also want to discuss how to use these obligations as opportunities and competitive advantage.

Duration:
3 Days, 09:00 to 17:00

Course Synopsis:

Introduction - From Solvency i to Solvency ii

The current Solvency I framework and the calculation of capital requirements

Too simple, no risk sensitive

Differences across Europe

Lessons learned from 2002 – 2003 and from insurance company failures

Need for better risk management

Solvency ii: An Overview

DIRECTIVE …/…/EC of […] on the taking-up and pursuit of the business of Insurance and Reinsurance

General rules on the taking-up and pursuit of direct insurance and reinsurance

Subject matter, scope and definitions

Scope and exclusions from scope

Non-life, life, reinsurance

Authorisation

Supervisory authorities and powers

Group supervision: Definitions, cases of application, scope and levels

Supervision of group solvency

Public disclosure

Report on solvency and financial condition

Competencies of the supervisory authorities of the host member state

Insurance and reinsurance undertakings in difficulty or in an irregular situation

Right of establishment and freedom to provide services

Provisions specific to non-life insurance

Provisions specific to life insurance

Solvency ii: Corporate Governance

Responsibility of the administrative or management body

System of governance

General governance requirements

Risk management

Own risk and solvency assessment

Internal control

Internal audit, duties of auditors

Pursuit of life and non-life insurance activity

Separation of life and non-life insurance management

Risk management and internal control

Mixed-activity insurance holding companies

Intra-group transactions

Solvency Capital Requirement, valuation and calculations

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

Own funds

Determination and classification of own funds

Solvency Capital Requirement

Requirement using the standard formula or an internal model

Calculation of the solvency capital requirement

Value-at-risk measure, with a 99.5% confidence level, over a one year period

Capital requirement for operational risk

Minimum capital requirement

Calculation of the basic solvency capital requirement

Calculation of the non-life underwriting risk module

Calculation of the life underwriting risk module

Calculation of the special health underwriting risk module

Calculation of the market risk module

Solvency ii and 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

Final provisions and Transposition

The Reinsurance Directive: An overview

Directive 2005/68/EC of 16 November 2005 on reinsurance

Reinsurance, Captive Reinsurance Undertakings, Finite Reinsurance

Authorisation

Principles and methods of financial supervision

Competent authorities

Supervision of branches established in another Member State

Duties of auditors

Rules relating to the solvency margin and to the guarantee fund

Required solvency margin for non-life reinsurance activities

Required solvency margin for life reassurance activities

Reinsurance undertakings in difficulty or in an irregular situation and withdrawal of authorisation

Special purpose vehicles

Reinsurance undertakings not complying with the legal provisions

Principle and conditions for conducting reinsurance business

Third countries

Committee procedure - The European Insurance and Occupational Pensions Committee

Reinsurance supervision in the EU

Calculation of the adjusted solvency of insurance undertakings and reinsurance undertakings

Transposition

Solvency ii - The Interpretations

The Lamfalussy Process

From Level 1 to Level 2

EIOPC - The Level 2 Committee

CEIOPS - The Level 3 Committee

Level 4 challenges

Insurance and Reinsurance in the EEA and the World

Solvency ii, the Reinsurance Directive and countries of the European Economic Area

Solvency ii, the Reinsurance Directive and countries outside the European Economic Area

Solvency ii, the Reinsurance Directive and the Offshore Financial Centers (OFCs)

Solvency ii, the Reinsurance Directive and the USA

Solvency ii and the Reinsurance Directive, and other Directives
Tomorrow

The course can be tailored to meet specific needs

Our Policy

Fixed fees, fixed terms. You know the exact final cost. Everything is included in this price (expenses, flights, tax etc.). There is no exception – you know exactly the cost. Consulting or training, it will never cost more.