Solvency 2 : impacts for the insurance sector

Challenges, evolutions and applications

Course objectives

  • Understand the way insurance works
  • Increase awareness of asset allocation specific stakes
  • Deepen audience's knowledge about Solvency II
  • Understand how it is implemented in Insurance companies
  • Identify changes on each and everyone's tasks and responsibilities
  • Glance through the risk calculation methodology with a numerical example

The Insurance market : Size, type and outlook

  • AUM by insurance activities and type of insurer
  • Key figures and market analysis of main European countries
  • Life insurance market dynamic
  • Average portfolio allocation
  • Consequences of the economic and financial downturn

Insurance business model and regulatory environnement

  • Life insurance balance sheet : Asset and liabilities
  • Regulatory and accounting current frameworks

Asset Management for insurance clients : Main peculiarities

  • Objectives and constraints for the asset allocation
  • Reporting stakes within Solvency I

Objectives and development stage of Solvency II

  • Principles and 3-pillar structure
  • Omnibus Directive and new calendar

From Solvency I to Solvency II : a new paradigm

Case Study:

- Comparison of two portfolios with different risk profiles

- Solvency I calculation formula explanation

- Risk capital calculation for portfolio 1 and 2

- Results explanation and conclusion on Solvency II value added

Pillar I : Quantitative requirement and risk processes

  • Pillar I requirements
  • Example : SCR processes at a life insurer
  • Brainstorm session on likely impacts / Pillar I

Pillar II : Governance, control and organisational impacts

  • Pillar II requirements
  • Example : Risk functions organisation model
  • Brainstorm session on likely impacts / Pillar II

Pillar III : Reporting and data availability

  • Pillar III requirements
  • Example : Data flow cartography / Quantitative Reporting Template (QRT)
  • Brainstorm session on likely impacts / Pillar III

Franck Coisnon

Franck Coisnon

Frank began his career as operational in trading activities as Risk Manager at Pechiney in Tokyo, before joining the audit teams of the group. He holds a Masters Degree specializing in management of market transactions and a master of finance, he joined the board of the firm OTC Conseil in 2003. There he implements IFRS projects and risk management missions in the field of investment banking and insurance, before creating the Solvency 2 in 2007. Frank then joined the group Greenwich Consulting as an Insurance Partner and works on projects of transformation of the Finance and Risk department in the field of personal insurance (ORSA, Pillar 3, multistandard closing).

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