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The Solvency II Handbook: Practical Approaches to Implementation

Including a chapter from Deloitte authors on SII/IFRS comparison

The Solvency II Handbook: Practical Approaches to Implementation was published by RiskBooks in October 2014 and focuses on the practical aspects of Solvency II and its actual implementation. The original best-selling Solvency II Handbook, published in 2009, focused on the theory with a detailed examination of the main requirements and impacts of Solvency II to insurers and reinsurers. Both books complement each other and should be read by anyone dealing with Solvency II in any capacity. In both Handbooks Deloitte authors contributed on the theory and practical implications that insurers need to consider when comparing the valuation of insurance liabilities under Solvency II to the forthcoming new IFRS 4 Phase II requirements.

Solvency II is being implemented in 2016 and the new IFRS will follow 2 to 3 years later. Larger companies are making progress but are still interested in hearing the views and learning from the experience of others. Smaller companies who started later are now in the phase of finalising their Solvency II projects. Now is the time when they will need to resolve any issues that arise; this book provides answers to their questions. Every company will have to make the most of their work on Solvency II as the completion of this work is likely coincide with the start of the equally challenging and demanding implementation of the new IFRS 4 Phase II requirements. To capture synergies between the system supporting compliance with the two regulations is a non-negotiable imperative for any insurer and success in that undertaking starts from the understanding of the similarities and differences between the two sets of insurance liability valuation rules.

Edited by best-selling author René Doff, this book focuses on the implementation and challenges of Solvency II. It includes many case studies from insurers, organised around the three pillars of Solvency II.

One of the chapters, Insurance liabilities under IFRS Phase II and Solvency II, was written by Francesco Nagari, Deloitte Hong Kong, and Derek Haynes, Deloitte UK. We are pleased to share three short excerpts from this chapter:

  1. Introduction, Background, Objectives and Methodology
  2. Objectives and timetable for Solvency II
  3. The Measurement Approaches of IFRS 4 Phase II and Solvency II for the Valuation of Insurance Contracts

The book is available from RiskBooks.

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