Solvency II

Due to come into effect on an “interim measures” basis on 1 January 2014, Solvency II aims to implement solvency requirements that better reflect the risks that companies face and deliver a supervisory system that is consistent across all member states.

The challenge of preparing for and implementing Solvency II calls for a multi-disciplinary approach. At Deloitte, we are able to provide the required breadth of service expertise that ensures all aspects of Solvency II requirements and opportunities are considered and we can support you through the entire process by providing services including:

  • Readiness assessment across the three pillars of Solvency II
  • Implementation or independent review of your ORSA
  • Capital modelling:
    - Complete or partial set-up of internal or standard models
    - Packaged standard formula model solution, including production of Quantitative Reporting Templates (QRTs)
    - Review / validation of standard formula and internal models
  • Actuarial function services on a support or fully outsourced basis, including:
    - Calculation of technical provisions
    - Opinion on the overall underwriting policy
    - Opinion on the adequacy of reinsurance arrangements
  • Process, data, documentation and system improvements as required to meet Solvency II requirements
  • Tailored training for Boards, management and staffProject management