Solvency II: A guide to the new regime (Second edition - January 2011)

This is the second edition of Solvency II: A guide to the new regime written by PwC’s UK Solvency II team.

Solvency II is a fundamental review of the prudential regulatory requirements for the European insurance industry, and will establish a revised set of EEA-wide capital requirements, risk management standards and disclosure requirements.

The purpose of the guide is to give users a detailed understanding of the new regulatory regime for insurance companies that will exist under Solvency II. This Guide should  help its readers to navigate the numerous publications that shape the new Solvency ll regulatory framework in a logical and clear manner.

This second edition of the Guide has been updated to reflect developments during 2010. New technical material reflected in this edition of the Guide includes: the finalisation of EIOPA's (previously CEIOPS) Level 2 advice, the QIS5 exercise, further consultations on the equivalence assessment process and the European Commission's consultation on the implementing measures.

This 460-page Guide is structured into ten chapters, each of which explores a distinct area of the Solvency II regime. The chapters of the Guide are:

• Scope and application
• Regulatory approach
• System of governance
• Assets and liabilities
• Technical provisions
• Own funds
• Capital requirements - MCR, SCR standard formula and SCR internal model
• Public and supervisory reporting
• Groups
• Branches and freedom to provide services

This Guide reflects the requirements of the Solvency ll regime included in the entire Directive, all relevant EIOPA Consultation Papers and Advice, the QIS5 technical specifications and other relevant consultations and publications. 

Solvency II: A guide to the new regime' is only available in hard copy (£100 per copy) from PwC. To order your copy, please contact Elaine Tan.