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 ArticleECB Publishes Examples of Complete Reports for AnaCredit
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
PRA published the policy statement PS19/20 on the final policy for extending coverage under the Financial Services Compensation Scheme (FSCS) for Temporary High Balance.
EBA published the final draft implementing technical standards for disclosures and reporting on the minimum requirements for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) requirements in EU.
EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.
EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.