Milliman Briefing Note: EIOPA Final Guidelines on the Preparation for Solvency II

In September 2013, EIOPA published its final guidelines on the preparation for Solvency II following a public consultation earlier in the year.

The guidelines allow for the phased introduction of specific aspects of the Solvency II requirements into national supervision from January 2014. There are several key areas each covered by a separate set of guidelines, including system of governance, forward looking assessment of the undertaking’s own risk, submission of information to NCAs and pre-application for internal models.