Solvency II - Foundation
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. This regulation is built upon 3 pillars that deal with quantitative solvency requirements (pillar 1), governance and own-risk assessment (pillar 2) and financial communication and market discipline (pillar 3).
Since 2021, the European Insurance and Occupational Pensions Authority (EIOPA) has introduced updates to the current regulations with the aim of making the insurance and reinsurance sector more resilient and prepared for future challenges. This includes stabilising insurers' capital requirements, providing them with room to manoeuvre in the short term.
In order to complement your learning journey, please discover our Insurance curriculum.
Duration: 3h
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 training, participants will be able to:
- build basic knowledge about key concepts (SCR, MCR, BE, RM);
- get insight into the risk management and governance (ORSA);
- get insight into the reporting under Solvency II (QRTs, RSR, SFCR);
- report under S2 (QRTs, RSR, SFCR) and regulator expectations.
Content
- Solvency II - Background
- Risk-based regulation: three pillars
- Pillar I - Quantitative requirements
- Pillar II - Governance
- Pillar III - Disclosures
- Luxembourgish market
- Solvency II and CAA
Target audience
- Actuaries
- Accountants
- Finance controller
- 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 is an IFoA qualified actuary (in the UK) and a member of ILAC (actuarial association in Luxembourg) with more than 20 years of professional experience at PwC offices across Europe and Asia, currently leading the actuarial practice at PwC Luxembourg. Pavel specialises in actuarial consulting services for financial services companies - financial reporting, Solvency II, pricing, embedded value, business planning, etc.
Timothée is a qualified French actuary and a member of ILAC (actuarial association in Luxembourg) with more than 10 years of professional experience specialising in valuation, financial reporting, risk pricing, data management.
