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Our services > Solvency II

Solvency II is based on three pillars focused on the following principles :

  • The first pillar sets the quantitative requirements regarding capital - recurrent calculation of SCR and MCR in accordance with the standard formula.
  • The second pillar sets the control framework and coordinates the surveillance activities both on a supervisor level and the entity itself.
  • The third pillar requires discipline, transparency and disclosure of information with regard to the market, the insured and the supervisors.

Solvency II is an active tool subject to various evolutions.

Aquila Risk Solutions is committed to follow up and keep you compliant with the changes that are made to the Solvency II Directive.

An accurate follow-up of the Solvency II evolution is mandatory as it enables you :

  • To be prepared for the important transition which will be set in motion in 2013, and gain a better understanding of the risks involved,
  • To assess their impact immediately by implementing the latest updates carried out by Aquila Risk Solutions on various studies, namely when making the actuarial report or the certification of technical provisions/IBNR.

Please find below our scheduled action plan for the next few years :

  • From 2010 to 1012, Aquila Risk Solutions will implement on your behalf :
    • The QIS 5 study in accordance with your financial reports for the year ending 31 December 2009,
    • An update of the QIS 5 study from your financial reports for the years ending 31 December 2010 and 2011,
    • The sensitivity analysis of the SCR,
    • Pillar II implementation,
    • The setting up of ORSA.
  • When Solvency II is implemented, Aquila Risk Solutions will assist you with :
    • Regular updates of the SCR and MCR,
    • An Excel tool realizing sensitivity analyses of your main risk modules.