Comparison of the standard formulae for life insurers under the Swiss Solvency Test and Solvency II

This paper examines in detail the similarities and differences between the key quantitative aspects of the standard formulae of the Swiss Solvency Test (SST) and Solvency II, as specified in the fifth Quantitative Impact Study (QIS5). This research report, which focuses on aspects related to life insurance, also considers at a high level the qualitative aspects of these two principles-based regulatory capital regimes.