Solvency II

By Padraic O'Malley, Andrew Kay  |  25 January 2018

The loss absorbing capacity of deferred tax (LACDT) is one of the key elements of a company’s Solvency Capital Requirement (SCR).

By Kurt Lambrechts, Moussa Ouédraogo, Kamiel van Langen, Peter Franken  |  22 January 2018

This report summarises the Solvency and Financial Condition Reports of the main players in the life and non-life insurance business in Luxembourg.

By Flavien Thery, Lamia Amouch, Derek Newton, Vincent Robert  |  03 January 2018

This report focuses on the quantitative information contained in the Quantitative Reporting Templates with the Solvency and Financial Condition Reports (SFCRs) and also studies the text within SFCRs to gain additional insight into various companies, in particular those that displayed characteristics that differed materially from the market average.

By Cormac Gleeson, Ellen Matthews, Bridget MacDonnell, John Mulvihill, Eamon Comerford, David Burston, Neil Christy, Jeffrey A. Courchene, Emma Hutchinson, Jennifer Strickland, Marie-Lise Tassoni  |  20 December 2017

This briefing note summarises the final advice from the first stage of the EIOPA review and provides details on EIOPA’s proposals in the latest consultation paper on its second set of advice.

By Sinéad Clarke, Tanya Hayward, Judith Houtepen, Didier Serre  |  12 December 2017

This analysis compares the information provided in the Quantitative Reporting Templates and the Solvency and Financial Condition Reports to see if there are any conclusions about the balance sheets and risk exposures of European health insurers.

By Ellen Matthews, Sinéad Clarke  |  08 December 2017

To help prepare for Solvency II reporting throughout 2018, we have prepared a briefing note detailing Solvency II reporting deadlines in 2018 and the changes in the reporting framework relative to the previous year.

By Sinéad Clarke  |  07 December 2017

This analysis of European life insurers’ first set of Solvency and Financial Condition Reports covers 200 companies from 13 countries, representing approximately €475 billion of gross written premium and approximately €4,700 billion of gross technical provisions.

By Sarah Keane, Mike Claffey, Patrick Meghen  |  07 December 2017

EIOPA has published new rules, setting out how Supervisory Authorities should work together, in the latest version of what was originally referred to as the “Siena Protocol”. This briefing note discusses these updates.

By Ian Humphries, Robert Bugg, Veekash Badal  |  02 October 2017

This article provides an extended summary of the proposed changes from two Consultation Papers that will apply to Solvency II insurers, Insurance Special Purpose Vehicles and large Non-Directive Firms.

By Edward Morgan, Jeremy Kent  |  19 September 2017

This paper introduces a new methodology for measuring new business value and new business profitability in the Solvency II world.

27 July 2017

On 4 July 2017, the European Insurance and Occupational Pensions Authority (EIOPA) released a Consultation Paper on its first set of advice to the European Commission on the Solvency II Review.

By Emma Hutchinson, Marie-Lise Tassoni, Stuart Reynolds, Oliver Gillespie  |  18 July 2017

A summary of findings on the Transitional Measure on Technical Provisions (TMTP relief) and views on different approaches to recalculating the TMTP relief and the associated key issues and challenges.

By Eoin King, Bridget MacDonnell  |  23 June 2017

It is worthwhile spending some time to ensure that your company’s 2017 ORSA is in line with best practice in terms of both format and content.

By Steven Hooghwerff, Roel van der Kamp, Sinéad Clarke  |  21 June 2017

This article provides a short overview of the structure of the Standard Formula, presents a suggested framework and worked examples, and discusses challenges and pitfalls to be considered.

By Sinéad Clarke  |  20 June 2017

Sinéad Clarke presents findings from our review of published SFCRs and the associated QRTs for year-end 2016.

By Caoimhe Fahy, Bridget MacDonnell, Eoin King  |  25 May 2017

The second Milliman Evening Briefing took place on 24 May 2017. The theme of the evening briefing was “Hot Topics”.

By Richard C. Frese, Tony F. Bloemer  |  02 May 2017

Actuarial expertise is important when working with an actuary but is not the only criteria that should be considered.

By Aisling Barrett, Mike Claffey, Andrew Gilchrist, Thomas Bulpitt  |  21 April 2017

In April 2017, EIOPA published its final decision on the methodology for the annual calculation of the Ultimate Forward Rate for each currency. This briefing notes summarises the key features of the final methodology and the changes made to proposals set out in the Consultation Paper CP16/03 in April 2016.

By Edward Morgan, Jeremy Kent  |  13 April 2017

The Solvency II Appraisal Value provides a workable methodology for use in M&A transactions, which is aligned with the way that investors generally view potential target companies.

By Aisling Barrett, Sinéad Clarke  |  04 April 2017

In February 2017, the Central Bank of Ireland published letters on its website relating to its review of the consistency of Solvency II life insurance pricing and reserving assumptions.