Solvency II
Following the first year of Solvency II it will probably be a good time for reflection for many insurers. From the challenges of planning and implementation, and then to meeting the reporting deadlines, there may be areas within systems, processes and procedures where improvements can be made and to ensure the regime is embedded within operations.
OAC’s Solvency II services have evolved and been developed to support the next phase for firms. Our depth of experience and knowledge in Solvency II ensures that our work fully considers the specific characteristics of your business, and is reflected in a way that your Board and senior management can recognise and relate to.
LATEST ARTICLE: "Lessons learnt from Solvency II" - June 2017
- Complete outsourced Actuarial Function service.
- Appointment of Chief Actuary to insurers with their own internal Actuarial Function unit.
- Calculation of solvency position, including Solvency Capital Requirement computations on internal model or a standard formula basis.
- Financial modelling expertise using Mo.net to undertake the Solvency II hierarchy of calculations.
- Guidance on effective risk management policies.
- Development of Own Risk and Solvency Assessment (ORSA).
- Our own software solutions to help embed effective risk management (The Risk Database, TRAC10).
- All aspects of Solvency II reporting, including capital requirements, annual reporting templates, asset reporting, Solvency and Financial Condition Report (SFCR) and Regulatory Supervisory Report (RSR).
For more information
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Other information on our website:
- 5 July 2017 - OAC speaks at AFM events on lessons learnt from Solvency II
- 27 June 2017 - Lessons learnt from Solvency II
- 18 November 2016 - Solvency II Reporting: PRA CP40/16 and withdrawal of CP37/16
- 21 Septemebr 2016 - OAC speaks to life actuaries about modelling assets at IFoA event
- 20 September 2016 - Technical Article on the audit requirements for Solvency II firms
- 16 September 2016 - Treasury Committee inquiry into Solvency II
- OAC Actuarial Services
- All regulatory news on Solvency II in our News & Insight section
What our clients say
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"We have adopted Mo.net as our actuarial modelling tool for a number of years. It is easy to use and understand, and extremely flexible. As a result we have been able to develop a platform for modelling our Solvency II requirements. Both business and IT staff have found the system straightforward to use, and it has integrated well with our other software platforms. Plus, OAC has provided excellent support during development and maintenance."