Insurers should use the CEIOPS paper to highlight their gaps
Definitions differ across Europe, so more than just the solvency ratios have to be considered
Closing down or exiting the EU may be the result, says AM Best
KPMG has provided commentary on some of the key CEIOPS' consultation papers (CPs) issued on 3 July. The main issues: internal model governance and technical provisions. KPMG's analysis below covers CPs 39, 40, 41, 42, 43, 44 and 56, as well as the addendum to 37. Further papers are covered in today's other feature.
This is our edited selection from Watson Wyatt's commentary on some of the main CEIOPS' consultation papers (CPs) issued on 3 July. The selection here mainly covers the standard formula and the capital add-on, looking at CPs 45, 47, 48, 49, 50, 51, 52, 53 and 57. Further papers are covered in today's other feature.
A senior manager should at least understand the questions the model is trying to answer, and their impact on the firm's business model, argues Craig Turnbull
The Solvency II level two implementing measures are not a done deal
KPMG highlights the key points of this weighty consultation paper as well as those on technical provisions
We should remember Nobel laureate Robert Merton's warning that "models are not at all precise in their application to the complex real world," argue Athula Alwis and Dave Ingram
Watson Wyatt has published its initial analysis of the 1,100 pages of documents put out last week.