Solvência II

Overview

The implementing measures for Solvency II, level 2, published in the European Union's Official Journal of 17 January 2015, represent a key step towards implementation of the directive, which are applied to European insurance companies since 1 January 2016.

The aim of the directive is to develop internal organisation and assessment models to manage risks and guarantee solvency.

Main provisions

The directive is based on three pillars:

• The first pillar sets out the quantitative financial requirements.

• The second pillar makes the setting up of a risk management body compulsory.

• The third pillar states the information that must be provided to the supervisory authorities and the public for better transparency.

More information

> Directive of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)

Principais impactos

• Obrigação de envio de relatórios às autoridades nacionais competentes (pilar 3)

• Enriquecimento de dados financeiros e análise de transparência dos OIC

• Cálculo dos requisitos de capital SCR (Solvency Capital Requirement)

Soluções do CACEIS

O CACEIS oferece às empresas de gestão, seguradoras e sociedades mútuas de seguros soluções personalizadas para produzir relatórios em conformidade com a diretiva Solvência II

• Recuperação de inventários, enriquecimento de dados e ganho de transparência

• Produção do inventário transparente trimestral

• Cálculo dos agregados do SCR bruto mercado

Key dates

• 11 March 2014

  The Omnibus II Directive adopted by the European Parliament

• 22 May 2014

  Publication of the Omnibus II Directive in the OSEU

• 10 October 2014

  The European Commission adopted the delegate Act

• 12 January 2015

  Level 2, end of the objection period

• 31 March 2015

  End of Solvency II Directive transposition period

• 2015

  Submission to the European commission of Level 3 text

• 1 January 2016

  Application of the Solvency II regime

• 26 November 2018 - 30 January 2019

  EIOPA consultation on the integration of ESG criteria into the Solvency II Directive.

• 1 July 2020

  Public consultation on the revision of the SolvencySolvency II Directive (closed 21 October 2020)

• 2 August 2021

  Publication of a Delegated Act to the Solvency II Directive in the OJEU to ensure the integration of ESG factors and sustainability risks into the Directive

• 1 August 2022

  Entry into force of the Delegated Act amending Delegated Regulations 2015/35/EU