Open Forum: In-solvency too (re-run)

As was feared by many, CEIOPS final wave of draft Level 2 Advice published on 2 November substantially increased the standard formula capital requirements, and possibly by implication influenced the factors or approaches against which any internal model may be judged by supervisors. While some ground was given in the final advice on other Level 2 issues released on 10 November, many of the insurance industrys concerns remain and the ABI has recently estimated a potential impact of 70bn on UK insurers. As a result, unless CEIOPS' final advice on the third wave of measures and the report from the risk-free rate task force due at the end of January are very favourable, the QIS 5 exercise in 2010 would be expected to show a significantly worse capital position than QIS 4, and perhaps require different capital planning.

At this event, you will hear from experts involved in the Solvency II exercise on their own and industry's views on the current proposals, how final the final advice is, the potential future developments as CEIOPS gets tough and how this could impact internal models.

The meeting begins at 16.00, with registration from 15.45.