Providing a practical costs effective approach to Solvency II.
Solvency II is a risk based regulatory regime with a focus on the nature, scale and complexity of the risks taken by an underwriting entity. It is driven by risk management at least as much as by risk modelling.
The legislation is complex and is placing increased demands on the industry. All insurers are experiencing or expecting significant resourcing costs to meet the requirements by 2012. Captives and other specialist insurers are affected by the legislation, but it has not been designed with a focus on them. For many the challenge is to “see the wood for the trees” and find a workable and efficient solution to Solvency II.