Los próximos 9 y 10 de marzo, se celebrará en Madrid el seminario “Validation of Technical Provisions under SII – An Actuarial Perspective”, organizado conjuntamente entre el Instituto de Actuarios Españoles (IAA) y la European Actuarial Academy (EAA)
Solvency II has come into force with the beginning of 2016. Thus all requirements of this new regulatory framework have to be implemented step by step by primary and reinsurance companies within the European Union. For the majority of these requirements various guidelines are published. Nevertheless, there are many uncertainties how to interpret the content of these guidelines, especially for smaller and mid-size companies, with regard to materiality and proportionality aspects.
Beneath calculation and reporting issues, Solvency II requires that a validation of the Technical Provision has to be performed and adequately documented by each legal entity (cf. Art. 264, 265 Delegated Acts). This validation activity has a linkage to pillar I, pillar II and also pillar III of the new solvency system. The seminar will provide a general overview on validation aspects.
Starting with a summary of the existing regulatory framework, we will provide you helpful interpretations on the first day as well as several practical examples on how to manage the validation tasks on the second day.