Solvency II

This introductory course is designed to give those users a broad overview of Solvency II, the language that accompanies it and the changes it will bring.

Programme:

• The background to Solvency II and its purpose
• A general understanding of each of the three Solvency II pillars
• Review insurer risks from the perspective of the 'Solvency II' balance sheet
• Your capital model - demonstrating the Foundations Principle/Use Test
• Risk management, governance and the ORSA
• Solvency II - implications for the industry.

Learning outcomes:

• Understand what Solvency II is and the implications for insurance companies of this new European Commission legislation
• Understand the key terminology used
• Translate the regulatory expectations - the background to Solvency II and its objectives
• Describe the component parts - the building blocks of Solvency II
• Explain the key terminology - the language of Solvency II
• Explore the key role of the capital model - the Use Test
• Understand how risk control and governance interacts with capital requirements
• Explore the data and reporting requirements under the three pillars of the legislation
• Explore the wider implications of a greater focus on risk based capital management.

Who should attend?

• Technical staff
• Compliance officers
• Finance staff
• Internal auditors.

CPD hours:

Attendance of this course awards up to 6 CPD hours where you consider it relevant to your professional development needs.