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ARTICLE · 06 JANUARY 2014

Solvency II: Preparing For EIOPA’s Interim Guidelines

Deloitte
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The European Insurance and Occupational Pensions Authority recently published the final Guidelines for the preparation of SII and the European trilogue agreement, paving the way for Solvency II to go live on 1 January 2016.

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Deloitte Financial Services Group
Deloitte Financial Services Group
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Background

The European Insurance and Occupational Pensions Authority (EIOPA) recently published the final Guidelines for the preparation of SII (Guidelines) and the European trilogue agreement, paving the way for Solvency II (SII) to go live on 1 January 2016. The Guidelines are intended to ensure insurers make demonstrable progress towards SII by delivering key outcomes from 1 January 2014 until 31 December 2015.

Insurers should carry out a high level analysis to understand what work needs to be done in which areas and by when. Detailed analysis for the most immediate items should be performed as soon as possible as the Guidelines will be in force from 1 January 2014. This paper outlines what insurers need to know and what they need to do.

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