21 Mar 2024
SII-Review: From Commission’s Request to an Adapted Framework
Solvency II-Review was initiated in February 2019 with Commission’s request for technical advice to EIOPA. This advice constituted the basis for Commission’s proposal for an amendment of the SII-framework and the proposal to deal with recovery and resolution in a separate Directive. Council and later Parliament proposed numerous amendments to these proposals. These have been discussed by the trialogue parties since September 2023. The agreement achieved in December 2023 on the reform of the framework was an important milestone.
This agreement paves the way for the adaptation of the Solvency II-framework and for the introduction of the new Insurance Recovery and Resolution Directive (IRRD).
Some relevant details of previously discussed issues are shifted to Delegated Regulation or Technical Standards and are not finalised. The Commission’s empowerments together with EIOPA’s previous technical advice allow already by now a first assessment of the outcome.
This web session will deal with the following topics:
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 status achieved and about the next steps required to complete the adaptation of the framework to the modified Directive.
Technical RequirementsPlease 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). Please also make sure to join the web session with a stable internet connection.
Purpose and Nature