Countdown to Solvency II

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Bridging risk and capital: Edition 3 May 2008

This is the 3rd edition of Countdown to Solvency II from our international Solvency II team. It examines how to make the most of QIS 4 and view it as an opportunity to understand the commercial implications of Solvency II. It discusses operational risk and how effective risk management could improve the efficiency of systems, processes and controls. It explores internal models emphasising that model approval is more than just getting the numbers right (embedded strategic decision making must be evidenced too) and finally, it discusses the learning points from Basel II.

Themes are explored across four articles:

1. Knowing the score: Making the most of QIS 4
2. Operational risk: Turning compliance into competitive advantage
3. Trusting the numbers: The development, application and approval of internal models
4. Securing the payback: Learning from Basel II

And a helpful "Next steps" which explores what's coming up this year.

We hope that this and future publications will provide insights that can help enhance understanding and assist insurers in preparing for the changes ahead.