Solvency II - Advanced
Solvency II is the EU regulatory prudential framework for (re)insurance companies which aims at leveling the playing field of the insurance market in terms of capital requirements, governance and policyholder protection.
Solvency II balance sheets are not yet subject to mandatory external audit in Luxembourg, but this is expected to change.
EIOPA has submitted technical standards and revised guidelines to the European Commission to support the implementation of the reviewed Solvency II Directive. These include enhanced supervisory cooperation, auditability of SFCR disclosures, and external audit requirements for the Solvency II balance sheet. The revised directive, published in January 2025, gives member states until January 2027 to transpose the new rules into national law.
In order to complement your learning journey, please discover our Insurance curriculum.
Duration: 1h
Language: Available in English and French. The supporting material is only available in English.
Number of participants: up to 15
Available as intra-company course (i.e. dedicated session on demand)
Course content can be customised on demand under specific conditions.
Objectives
By the end of this advanced course, participants will be able to understand the key updates of the regulatory framework and the EU agenda. It will be coveres as well the expected audit under Solvency II programme and our experience of assisting insurers with proactive assurance.
Content
- Solvency II review goals
- Solvency II Update 2021
- EIOPA on the use of risk mitigation techniques by insurance and reinsurance undertakings
- Solvency II auditability expectations and process
Target audience
- Actuaries
- C-Level
Our lead experts
This training is coordinated by Pavel Kostyuchenko, Partner at PwC Luxembourg, and Timothée Muller, Senior Manager at PwC Luxembourg. It will be delivered by experts of PwC Luxembourg daily involved in solvency II topics for insurers and reinsurance companies.
Pavel Kostyuchenko is a partner and Fellow of the Institute and Faculty of Actuaries, specialising in actuarial consulting and risk modelling for the financial sector with over 20 years of experience, including 17 years at PwC. He leads PwC Luxembourg's actuarial and risk modelling services practice and previously headed actuarial practices in PwC’s CEE offices in Asia. Pavel advises insurers and reinsurers on reserving, financial reporting, IFRS17, Solvency II, business planning, and acquisitions. He contributes to PwC’s global Actuary of the Future and Actuarial Modernisation initiatives and supports the UK Institute and Faculty of Actuaries on the profession’s future in overseas markets. His expertise includes risk capital frameworks, strategic asset allocation, and ALM, serving clients in insurance, asset management, and the public sector.
Timothée Muller is a senior manager and fully qualified actuary with over seven years of professional experience, holding master’s degrees in statistics with actuarial specialisation and IT engineering. Since 2021, he has been with PwC Luxembourg’s Actuarial, Risk & Modeling Services team, leading Solvency II reporting, actuarial reserving reviews, and various advisory projects. His expertise spans Solvency II and capital modeling, regulatory reporting, risk modeling, and IT process optimisation. Timothée manages transfer pricing analyses for reinsurance captives, supports reinsurance clients in optimising structures, and develops dividend strategies for insurance entities, while also delivering actuarial training and supporting due diligence and audit engagements.
