Calls for advice

In the last one and a half years, the European Commission has submitted various "calls for advice" to CEIOPS covering a total of 23 different subjects.

These papers provide an initial indication of what the future solvency system will look like. They contribute to further discussion and help smooth the way for the first draft of the expected framework directives.

The first wave of consultation centred on subjects concerned with the second pillar of Solvency II (supervisory processes) such as risk and control management. It also dealt with the future requirements involved in the supervisory processes. The second wave focused on issues relating to the first pillar (capital requirements) such as underwriting reserves, the requirements for a standard approach, internal models and the recognition of reinsurance in Solvency II.

The third wave covered subjects connected with all three pillars, including eligible capital, procyclicality and regulations for small and medium-sized insurance companies.

For further information, visit the CEIOPS website at www.ceiops.org.