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Industry welcomes Solvency II QIS 5 study
23 August 2010
The CEA, the European insurance and reinsurance federation, has called on all European insurers to take part in the European Commission’s fifth quantitative impact study in preparation for the EU’s new regulatory regime, Solvency II.
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solvency ii
quantitative impact study
qis 5
cea
European Insurance CFO Forum
The CEA, the European insurance and reinsurance federation, has called on all European insurers to take part in the European Commission’s fifth quantitative impact study (QIS 5) in preparation for the EU’s new regulatory regime, Solvency II.
Broad participation will ensure that a clear picture is reached of the appropriateness and feasibility of the tentative solutions and options identified by the Commission and will pave the way for the finalisation of Solvency II, said the CEA.
The CEA had previously voiced serious concerns over the advice for the implementing measures drawn up by the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops), which it felt was excessively prudent in relation to capital requirements and did not always respect the basic principles of an economic risk-based regulatory regime, as set out in the Solvency II framework directive.
“We believe that the QIS 5 specifications prepared by the...
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