1. Solvency Ii https://store.theartofservice.com/the-solvency-ii-toolkit.html

2. Actuary - Non-traditional employment 1 For example, the Basel II accord for financial institutions, and its analogue, the Solvency II accord for insurance companies, requires such institutions to account for operational risk separately and in addition to credit risk|credit, Actuarial reserves|reserve, asset, and insolvency risk https://store.theartofservice.com/the-solvency-ii-toolkit.html

3. Operational risk - Difficulties 1 In addition to the Basel II requirement for banks, this is now a requirement for European insurance firms who are in the process of implementing Solvency II, the equivalent of Basel II for the banking sector. https://store.theartofservice.com/the-solvency-ii-toolkit.html

4. Solvency II 1 The 'Solvency II Directive' [http://eur- lex.europa.eu/LexUriServ/LexUriServ.do?u ri=OJ:L:2009:335:0001:01:EN:HTML 2009/138/EC] is an EU Directive that codifies and harmonises the EU insurance regulation. Primarily this concerns the amount of capital that EU insurance companies must hold to reduce the risk of insolvency. https://store.theartofservice.com/the-solvency-ii-toolkit.html

5. Solvency II 1 Once the Omnibus II directive is approved by the European Parliament, Solvency II will be scheduled to come into effect on 1 January 2016. This date has been pushed back many times. https://store.theartofservice.com/the-solvency-ii-toolkit.html

6. Solvency II - Political Implications of Solvency II 1 Solvency II is a major political issue in the UK which may affect how the country votes should a referendum on EU membership take place in the coming years.http://www.express.co.uk/comment/ expresscomment/395755/Solvency-II- shows-the-EU-is-truly-bankrupt-of- ideas?goback=%2Egmp_5151910#%21 https://store.theartofservice.com/the-solvency-ii-toolkit.html

7. Solvency II - Political Implications of Solvency II 1 Doubts about the basis of the Solvency II legislation, in particular the enforcement of a market-consistent risk model have also been expressed by American subsidiaries of UK parents - the impact of the 'equivalency' requirements are not well understood and there is some concern that the legislation could lead to overseas subsidiaries becoming uncompetitive with the local peers, resulting on the need to sell them off, potentially resulting in a 'Fortress Europe'.http://www.solvencyiinews.com/europe/re domiciling-still-an-option-for-dissatisfied-prudential https://store.theartofservice.com/the-solvency-ii-toolkit.html

8. Solvency II - Background 1 Since the initial Solvency I Directive 73/239/EEC was introduced in 1973, more elaborate risk management systems developed. Solvency II reflects new risk management practices to define required capital and manage risk. While the Solvency I Directive was aimed at revising and updating the current EU Solvency regime, Solvency II has a much wider scope. A solvency capital requirement may have the following purposes: https://store.theartofservice.com/the-solvency-ii-toolkit.html

9. Solvency II - Background 1 Often called Basel for insurers, Solvency II is somewhat similar to the banking regulations of Basel II. For example, the proposed Solvency II framework has three main areas (pillars): https://store.theartofservice.com/the-solvency-ii-toolkit.html

10. Solvency II - Pillar 1 1 The Solvency II Directive provides regional supervisors with a number of discretions to address breaches of the MCR, including the withdrawal of authorisation from selling new business and the winding up of the company. https://store.theartofservice.com/the-solvency-ii-toolkit.html

11. Solvency II - Criticisms 1 10 2011 Q2 2012 The calibration of the standard formula for assessing equity risk has been criticized for the fact that the procedure used for determining correlations between different asset classes gives rise to spurious (i.e., unreliable) correlations or spurious relationships.Stefan Mittnik: Solvency II Calibrations: Where Curiosity Meets Spuriosity Working Paper Number 04, 2011, Center for Quantitative Risk Analysis (CEQURA), Department of Statistics, University of Munich, https://store.theartofservice.com/the-solvency-ii-toolkit.html

12. Systemic risk - Systemic risk and insurance 1 The report underlines that supervisors and policymakers should focus on activities rather than financial institutions when introducing new regulation and that upcoming insurance regulatory regimes, such as Solvency II in the European Union, already adequately address insurance activities. https://store.theartofservice.com/the-solvency-ii-toolkit.html

13. Institute and Faculty of Actuaries - Statistics on shortage occupation list migrants 1 Despite Solvency II Directive work being cited as a reason for a shortage of Actuaries, only one migrant had the description Solvency II in their job title. https://store.theartofservice.com/the-solvency-ii-toolkit.html

14. Information Framework - IBM Insurance Information Warehouse (IIW) 1 # Content to cover analysis in critical insurance business areas such as Profitability, CRM, Financial Reporting and Risk Management (For example, Solvency II.[https://eiopa.europa.eu/activities/insura nce/solvency-ii/index.html Solvency II]) Selected analysis areas are described in further detail at the end of this chapter https://store.theartofservice.com/the-solvency-ii-toolkit.html

15. Information Framework - IBM Insurance Information Warehouse (IIW) 1 business users. Examples include: Analytical Customer Relationship Management (CRM); Profitability; Claims Efficiency; Intermediary Performance; Business Performance; Risk and Compliance; Solvency I; Solvency II; Sarbanes Oxley Act (SOA); International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS); and Risk Management. https://store.theartofservice.com/the-solvency-ii-toolkit.html

16. For More Information, Visit: https://store.theartofservice.co m/the-solvency-ii-toolkit.html https://store.theartofservice.co m/the-solvency-ii-toolkit.html The Art of Service https://store.theartofservice.com