DNB issued insurance newsletter for May 2018. The newsletter highlighted that Solvency II was the theme of the DNB insurance meeting conducted on April 25, 2018. The key topics discussed during the meeting include progress made since the introduction of Solvency II and the areas that are open to improvement. The newsletter notes that DNB issued questions and answers (Q&A) for consultation regarding proportional interpretation to the Own Risk and Solvency Assessment (ORSA). DNB has also published a fact sheet on proportionality, which provides insight into proportionality in Solvency II. The newsletter states that DNB had also published results of a study on proportional and effective supervision.
The other focus areas of the newsletter include the following:
- Evaluation of the onsite supervision of insurers and pension funds
- Update on the steps taken by health insurers in controlling the risk of conflicts of interest and corruption
- The specifications and corresponding scenarios for the European stress test published by EIOPA
- Update on DNB research regarding insurance management, with the research highlighting that insurers pay sufficient attention to the integrity risks of tax structures
- Update on calendar for insurers
Related Links (in Dutch)
Keywords: Europe, Netherlands, Insurance, Newsletter, Solvency II, Proportionality, QIS Calendar, DNB
Previous ArticleAndreas Dombret of Bundesbank Examines Future of US-EU Relations
HKMA urged authorized institutions to take early action to adhere to the IBOR Fallbacks Protocol, which ISDA is expected to publish soon.
FSB published a global transition roadmap for London Inter-bank Offered Rate (LIBOR).
HM Treasury published a document that summarizes the responses received from a consultation on the approach of UK to transposition of the revised Bank Resolution and Recovery Directive (BRRD2).
HM Treasury published the government response to the feedback received on the consultation for updating the prudential regime of UK before the end of the Brexit transition period.
PRA published the final policy statement PS22/20, which contains the updated supervisory statement SS12/13 on counterparty credit risk.
FSB published an update on its work to address market fragmentation. FSB is working in this area in collaboration with the other standard-setting bodies.
EBA proposed revisions to the guidelines on major incident reporting under the second Payment Service Directive (PSD2).
EBA published the final draft regulatory technical standards specifying the methodology for prudential treatment of software assets by banks.
FSB published a report presenting the roadmap to enhance cross-border payments by providing a high-level plan that sets ambitious but achievable goals and milestones in the five focus areas.
In a recent communication, EIOPA urged the insurance sector to complete its preparations for the end of the Brexit transition period on December 31, 2020.