The EU – Commission had requested EIOPA to provide technical advice on the review of the Solvency II Directive by 30 June 2020. As a consequence of the Covid-19 pandemic this timeline has been revised. Advice will now be delivered at end of December 2020. In line with the requirement of Article 77f (2), EIOPA will provide its technical advice in the form of an opinion. They will consider the comments received from stakeholder on two consultation papers published in 2019. The Actuarial Association of Europe (AAE) has commented on both papers. The new timeline will allow an assessment of the impact of Covid-19 on the Solvency II review.

Overall, the objective of this webinar is to inform participants of EIOPA’s opinion. We will present EIOPA’s advice and discuss deviations from our stance on these issues. In doing so the focus will be on topics with a strong actuarial relevance.

From today’s perspective the proposed treatment of the long-term guarantee measures including the extrapolation of the risk-free interest rate, the volatility adjustment and transitional measures will be of utmost interest. The risk margin calculation, the interest rate down-stress and possible extensions of the framework by macroprudential elements will deserve our closer attention. This list can of course not be conclusive. The final decision concerning the content depends on EIOPA’s opinion.

Organised by the EAA - European Actuarial Academy GmbH.

The web session is open to all interested persons.

Technical requirements
Please check with your IT department if your firewall and computer settings support web session participation (the programme GotoTraining/GotoWebinar is used for the web session). Please also make sure that you are joining the web session with a stable internet connection. 

Overall, the objective of this web session is to inform participants of EIOPA’s opinion. We will present EIOPA’s advice and discuss deviations from our stance on these issues. In doing so the focus will be on topics with a strong actuarial relevance.

The language of the web session will be English.

Siegbert Baldauf
Siegbert Baldauf is a member of the German Actuarial Association (DAV) and a Certified Enterprise Risk Actuary (CERA). From the outset in 2002, he has chaired the Solvency II Life working group of the DAV until 2013, when he took over the role as a Project Manager of AAE’s Solvency II Project.
He has been the Responsible Actuary for two Life Insurance Companies in Germany – ERGO Lebensversicherung AG and Victoria Lebensversicherung AG. In more than 30 years with ERGO and the predecessor companies he has performed executive functions in accounting, tariffing, economic valuation and deriving and controlling of actuarial assumptions. In 2013, he started partly working for the DAV especially dealing with Solvency II and international issues. After going into retirement in February 2016, he is still managing AAE’s Solvency II project as a self-employed actuary.