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.
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.