Category Archives: Solvency II

Solvency II annual reporting: Variation analysis templates

Organisations completing their second full year of Solvency II reporting are required to submit four additional reporting templates. These additional templates disclose the change in the excess of assets over liabilities over the 12-month period since the previous set of annual reporting templates were submitted to regulators. In this briefing, Milliman’s Barry Murphy and Cormac Gleeson discuss these templates and provide insight on how to approach them.

Analysis of non-life insurers’ Solvency and Financial Condition Reports: European and Polish non-life insurers (year-end 2016)

Solvency II went live on 1 January 2016 and introduced a number of new disclosure requirements for European insurers. Each insurer is now required to publish annually a Solvency and Financial Condition Report, including some Quantitative Reporting Templates. This European analysis of the non-life market by Milliman’s Marcin Krzykowski and Jarosław Lech covers 140 companies from 11 countries, which together comprise more than €141 billion of gross written premium (GWP) and nearly €224 billion of gross technical provisions, and our Polish analysis is based on 14 solo companies pursuing non-life business in Poland, representing circa 89% of the GWP of the Polish non-life market in 2016.

Analysis of life insurers’ Solvency and Financial Condition Reports: European and Polish life insurers (year-end 2016)

Solvency II came into effect on 1 January 2016 and introduced a number of disclosure requirements for European insurers. Under the new requirements, the majority of European insurers were required to publish detailed Solvency and Financial Condition Reports for the first time in May 2017. This analysis of the European life insurance market by Milliman’s Marcin Krzykowski and Jarosław Lech covers 200 companies from 13 countries, representing approximately €475 billion in gross written premium and approximately €4,700 billion of gross technical provisions.

Analysis of Dutch insurers’ Solvency and Financial Condition Reports

In May 2017, the first Solvency and Financial Condition Reports (SFCRs) were published for year-end 2016. This report by Milliman consultants provides a summary of key solvency information related to various life and non-life insurance entities in the Netherlands based on their SFCRs. The report also focuses on the largest consolidated insurance groups.

Brief study of UK health insurers’ first SFCRs

Solvency and Financial Condition Reports (SFCRs) contain a number of Quantitative Reporting Templates (QRTs). They are an important source of information on a company’s financial position under Solvency II. This report by Milliman’s Joanne Buckle and Didier Serre compares and contrasts the information in selected QRTs of 13 health insurers in the United Kingdom.

Analysis of Luxembourg insurers’ Solvency and Financial Condition Reports: Year-end 2016

This report by Milliman consultants summarises the Solvency and Financial Condition Reports of the main players in the life and non-life insurance business in Luxembourg. It focusses on the largest insurance entities in Luxembourg as well as some large reinsurance entities and includes an overview of the factors determining the Solvency Capital Requirement ratio.