Solvency II

London Governance and Compliance Academy

Short course

Online

£ 350 + VAT

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Description

  • Type

    Short course

  • Level

    Intermediate

  • Methodology

    Online

  • Class hours

    5h

  • Duration

    1 Day

Solvency II defines by how much an insurer’s assets should exceed its liabilities, under an expected and a stressed scenario, and so is fundamental to the business and the business model. This course goes through all of the many different stages and components of how this is done, illustrated throughout with recent examples from both General and Life insurers. It highlights the importance of the asset composition and how it relates to the liabilities and includes calibrations for a number of the risk modules. It also covers business-critical elements such as the Matching Adjustment and why this is under review.

About this course

Yes, LGCA offers more advanced programmes on the subject

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Reviews

Subjects

  • Risk
  • Solvency II
  • IT risk
  • Insurance Services
  • Insurance brokers
  • Insurance Claim
  • Financial Services
  • Compliance
  • Regulation Financial
  • Financial Risk

Teachers and trainers (1)

Michael Stafferton

Michael Stafferton

Expert, Author

Michael began his financial markets career in 1986 on the Financial Engineering desk at Yamaichi International, then one of the so-called ‘Big Four’ Japanese securities houses. The desk was mainly responsible for designing, structuring and swapping vanilla and structured bond issues for European clients. He then moved to a coverage role, predominantly in the UK and Eire, with responsibility for some of the more technically demanding clients, including the Bank of England and the European Investment Bank.

Course programme

Training Objectives

By the end of the course, participants will understand:

  • Solvency II’s objectives
  • How Solvency II tries to quantify an insurer’s liabilities and assets under an expected and a stressed scenario
  • The many different elements of Solvency II and how they interact
  • How some of the risk modules are calibrated
  • The particular impact of Solvency II on life insurers

Programme Outline

  • Introduction and overview, the regulation’s objectives
  • Base case scenario:
  • Best Estimate Liabilities, reinsurance and asset market value
  • The Long Term Guarantee Package, bond credit spreads and the Matching and Volatility Adjustments, asset-liability management and Interest rate risk
  • Stressed scenario – the Solvency Capital Requirement
  • Adjustments for Loss-Absorbing Capacity
  • Liabilities – Standardised calibrations and Partial Internal Models
  • Assets – Standardised stresses
  • Diversification benefits and the Risk Margin, Transitional Measures and Resets
  • Own funds constituents and the cover ratio
  • Pillar Two – stress tests, governance

See related categories

Solvency II

£ 350 + VAT

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