The 3 pillars of Solvency II
Understanding and measuring risks are key elements of Solvency II where undertakings are required to look at their organisation from a risk-based perspective. We provide pragmatic and tailored solutions for a cost-effective implementation of the 3 pillars of Solvency II.
Our team was awarded the “External Expert” tender of the Belgian National Bank (NBB) for the assessment of the best estimate of the technical provisions of a major Belgian insurer. This mission involved life, non-life, health and workers’ compensation portfolios.
Our activities as 1st line actuaries (performing calculations and modelling) or actuarial function holders (auditing and peer-reviewing) for a large number of market players ensure that we continuously follow-up and further develop the best practices in the sector.
- Calculation of technical provisions
- Economic Balance Sheet
- Calculation of SCR and MCR
- Development of (partial) internal models / Undertaking Specific Parameters
- Validation of models
- Identifying risks
- Formulating risk appetite
- Performing the ORSA
- Implementing a system of governance and policies
- Reporting RSR and SFCR