Start time: 9.00 am

End time: 11.00 am

(GMT time zone)


Will Solvency II Be Fit for Purpose?

Announcement from the EAA organiser:

Having Solvency II fit for purpose is an important goal of the current review. While the review of some rules is mandatory and required already in the framework, changes in politics and economy have gained in importance. Consideration of political requirements, sustainability and macro-prudential aspects will broaden the scope of the Solvency II framework. 

The final adoption of a modified Directive requires approval by Council, Parliament, and Commission. The negotiations in this regard will not start before next year, then based on a positioning of each of these trilogue parties. The available amendments to the Directive proposed by these parties reveal significant differences.

This web session aims at providing an overview of these amendments and discussing different views and how and to which extent these can contribute to an improvement of the framework. An assessment of the fitness for purpose can differ considerably, contingent on the expectation of the interested parties. We will focus on proposed changes that might particularly affect the work of actuaries and risk managers. Besides quantitative requirements effects on Pillar 2 and Pillar 3 will be included.

Commission has drafted a new Insurance Recovery and Resolution Directive. Some of the proposed topics of this new Directive and the connection with Solvency II will be presented as well. 

The web session might be of interest for all persons dealing directly or indirectly with the solvency regime in their daily business.  As a deep actuarial knowledge is not required, participation can be beneficial for all who want to learn more about the way to an adapted framework, the goals pursued with the amendments and the possible impact on undertakings solvency as well.  

The review of Solvency II is still ongoing. Besides giving a snapshot of the status this web session aims at presenting and discussing the views of the different European institutions involved. Their objectives and requests concerning shape and content of the framework are of high relevance for the understanding of possible amendments.

Technical Requirements: Please check with your IT department if your firewall and computer settings support web session participation (the programme Zoom will be used for this online training). 

Click here to make a reservation. Your early-bird registration fee is € 100.00 plus 19% VAT for bookings by 17 November 2022. After this date, the fee will be € 140.00 plus 19% VAT

Biographical details

Siegbert Baldauf is an independent actuary. He is a member of the German Actuarial Association (DAV) and a Certified Enterprise Risk Actuary (CERA) In more than 30 years he has been performing executive functions in accounting, tariffing, economic valuation with life insurance companies of the ERGO group in Germany. For several years he acted as the Responsible Actuary for two life insurers of the group. Since his retirement in 2016 he works freelance. From the outset and until 2013 he chaired the Solvency II Life Working Group of the DAV. He is now the chair of the Solvency II Working Group of the Actuarial Association of Europe (AAE). 

Event Type
Web Session
Event format
Virtual event
Siegbert Baldauf
European Actuarial Academy (AAE)