Solvency ii Training and Presentations from the Solvency ii Association
the largest Association of Solvency ii Professionals in the world
 
First Certified Course: Implementation of the Solvency ii Directive in the countries of the European Economic Area
 
Course Title
Preparing for the Solvency ii Directive of the EU
(3 days)
 
 
Objectives:
This course has been designed to provide with the knowledge and skills needed to understand and support compliance with the Solvency ii Directive of the European Union.
 
Target Audience:
This course is
intended for managers, professionals and consultants that want to understand the Solvency ii requirements and work in Solvency ii compliance projects.
 
This course is
recommended for senior managers and executives involved in risk and compliance.
 
About the Course
 
INTRODUCTION

 
The European Union’s Legislative Process. Directives and Regulations
The Financial Services Action Plan (FSAP) of the EU
Solvency ii and the Lamfalussy Process
Level 1: Framework Principles
Level 2: Implementation of Principles. Detailed Technical Measures
Level 3: Strengthening Cooperation Among Regulators
Level 4: Enforcement

From Solvency I to Solvency II
Solvency II Key Players
 
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
Identification and Notification of Deteriorating Financial Conditions by the Insurance and Reinsurance Undertaking
Non-Compliance with the Solvency Capital Requirement
Non-Compliance with the Minimum Capital Requirement
Supervisory Powers in Deteriorating Financial Conditions
Withdrawal of authorisation
 
Right of Establishment and Freedom to Provide Services
Conditions for Branch Establishment
Branches Established Within the Community and Belonging to Insurance or Reinsurance Undertakings whose Head Offices are Outside the Community
Principles and Conditions of Authorisation
Equivalence
Subsidiaries of Insurance and Reinsurance Undertakings Governed by the Laws of a Third Country and Acquisitions of Holdings by such  Undertakings
Third-Country Treatment of Community Insurance and Reinsurance Undertakings        
 
Supervision of Insurance and Reinsurance Undertakings in a Group
Group Supervision: Definitions, Cases of Application, Scope and Levels
Supervision of Group Solvency
Choice of Calculation Method and General Principles
Choice of Method
Related Insurance and Reinsurance Undertakings
Intermediate Insurance Holding Companies
Related Third-Country Insurance and Reinsurance Undertakings
Related Credit Institutions, Investment Firms and Financial Institutions
 
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
 
THE REINSURANCE DIRECTIVE 
 
Directive 2005/68/EC of 16 November 2005 on Reinsurance
Reinsurance, Captive Reinsurance Undertakings, Finite Reinsurance
Authorisation
Principles and Methods of Financial Supervision
Supervision of Branches Established in Another Member State
Special Purpose Vehicles
Third Countries
Transposition
 
THE SOLVENCY II DIRECTIVE AND THE NON-EEA COUNTRIES
 
Solvency ii, the Reinsurance Directive and Countries of the European Economic Area and outside the European Economic Area 
The Federal Insurance Office created under the Dodd-Frank Wall Street Reform and Consumer Protection Act in the USA, and the ORSA in the USA
 
CLOSING 
 
The Impact of Solvency ii
Translating Complex Rules Into Daily Activities       
Comparing and Contrasting Basel II and Solvency II
The Differences
What is next
The Level 2 - Technical measures
Solvency ii: A risk that can become an opportunity
 
   
 
Second Certified Course: Implementation of the Solvency ii Directive in the countries outside the European Economic Area
 
Course Title
Preparing for Equivalence with the Solvency ii Directive of the European Union
Understanding the Solvency ii directive of the EU and the extraterritorial application to non-EU countries (3 days)(3 days)
 
Objectives:
This course has been designed to provide with the knowledge and skills needed to understand the Solvency ii and the Reinsurance directives of the EU, and their extraterritorial application to non-EU countries.
 
Target Audience:
Many non-EEA countries have announced significant enhancements to their solvency and disclosure regulations for insurance, to achieve recognition as having equivalent regulatory standards to those in Europe’s Solvency II Directive.
 
This course is
intended for managers, professionals and consultants working in countries outside the EEA, that want to understand the Solvency ii Equivalence requirements.
 
This course is
intended for managers, professionals and consultants working in groups whose parent is located in a third country,  providing insurance services in the EEA (their EEA subsidiaries meet the requirements imposed by Solvency II).
 
This course is
recommended for senior managers and executives of non-EEA countries involved in risk and compliance.
 
About the Course
 
INTRODUCTION 

The European Union’s Legislative Process
Directives and Regulations
The Financial Services Action Plan (FSAP) of the EU
Solvency ii and the Lamfalussy Process
Level 1: Framework Principles
Level 2: Implementation of PrinciplesDetailed Technical Measures
Level 3: Strengthening Cooperation Among Regulators
Level 4: Enforcement
 
From Solvency I to Solvency II
Solvency II Key Players
 
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/EIOPA
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
Identification and Notification of Deteriorating Financial Conditions by the Insurance and Reinsurance Undertaking
Non-Compliance with the Solvency Capital Requirement
Non-Compliance with the Minimum Capital Requirement
Supervisory Powers in Deteriorating Financial Conditions
Withdrawal of authorisation    

SOLVENCY II, GROUP SUPERVISION AND THIRD COUNTRIES 

Right of Establishment and Freedom to Provide Services
Conditions for Branch Establishment
Branches Established Within the Community and Belonging to Insurance or Reinsurance Undertakings whose Head Offices are Outside the Community
Principles and Conditions of AuthorisationEquivalence
Subsidiaries of Insurance and Reinsurance Undertakings Governed by the Laws of a Third Country
Third-Country Treatment of Community Insurance and Reinsurance Undertakings
Supervision of Insurance and Reinsurance Undertakings in a Group
 
Group Supervision: Definitions, Cases of Application, Scope and Levels
Supervision of Group Solvency
Choice of Calculation Method and General Principles
Choice of Method
Related Insurance and Reinsurance Undertakings
Intermediate Insurance Holding Companies
Related Third-Country Insurance and Reinsurance Undertakings
Related Credit Institutions, Investment Firms and Financial Institution
 
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  
 
THE REINSURANCE DIRECTIVE 
Directive 2005/68/EC of 16 November 2005 on ReinsuranceReinsurance, Captive Reinsurance Undertakings, Finite Reinsurance
AuthorisationP
rinciples and Methods of Financial Supervision
Supervision of Branches Established in Another Member State
Special Purpose Vehicles
Third CountriesTransposition 
 
THE SOLVENCY II DIRECTIVE AND THE NON-EEA COUNTRIES
Solvency ii, the Reinsurance Directive and Countries outside the European Economic Area
The International Association of Insurance Supervisors (IAIS) Defines a (Similar to Solvency ii) 3 Pillar Approach to Supervision
The Swiss Solvency Test (SST) and Solvency ii: The basic principles are identical
Solvency ii, the Reinsurance Directive and the Offshore Financial Centers (OFCs)
Case Studies
Solvency ii, the Reinsurance Directive and the USA
The US National Association of Insurance Commissioners (NAIC) - the Organization of State Insurance Regulators and Solvency ii
The Dodd Frank Act in the USA
The Federal Insurance Office created under the Dodd-Frank Wall Street Reform and Consumer Protection Act in the USA, and the ORSA in the USA
Solvency ii and Regulatory Arbitrage  
 
CLOSING 
The Impact of Solvency ii outside the EEA
The risk for major Offshore Financial Centers - for the countries and the firms
The risk for third country reinsurance undertakings, captives, and holding companies
Solvency ii: A risk that can become an opportunity 
 
The course can be tailored to meet specific needs
 
   
 

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Certified Solvency ii Professional (CSiiP)
www.solvency-ii-association.com/Certified_Solvency_ii_Training.htm

Certified Solvency ii Equivalence Professional (CSiiEP)
www.solvency-ii-association.com/Certified_Solvency_ii_Training_Non_EEA_Countries.htm

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The Solvency ii Association has signed an exclusive worldwide partner agreement with Solvency II Training Ltd, Level 33, 25 Canada Square, Canary Wharf, London E14 5LQ, Tel:  +44 (0) 207 060 3312, Fax: +44 (0) 207 681 3317.

All the instructor-led classes that lead to the CSiiP and the CSiiEP certificates will be organized by the Solvency II Training Ltd. We do not offer distance learning programs.

For further information or to register for one of our Solvency II training courses, please contact:
Ross Fenwick,  Managing Partner,
Solvency II Training Ltd,
Tel:  +44 (0) 207 060 3312, Fax: +44 (0) 207 681 3317, Email: info@solvencyiitraining.eu , Web: www.solvencyiitraining.eu