{"id":59760,"date":"2022-06-28T08:39:53","date_gmt":"2022-06-28T08:39:53","guid":{"rendered":"https:\/\/lgca.uk\/?post_type=event_listing&p=59760"},"modified":"2023-11-15T13:34:24","modified_gmt":"2023-11-15T13:34:24","slug":"solvency-ii-2","status":"publish","type":"event_listing","link":"https:\/\/lgca.uk\/el\/\u03b3\u03b5\u03b3\u03bf\u03bd\u03cc\u03c2\/solvency-ii-2\/","title":{"rendered":"Solvency II"},"content":{"rendered":"

Course Overview\u00a0<\/strong><\/p>\n

Solvency II defines by how much an insurer\u2019s assets should exceed its liabilities, under an expected and a stressed scenario, and so is fundamental to the business and the business model. This course goes through all of the many different stages and components of how this is done, illustrated throughout with recent examples from both General and Life insurers. It highlights the importance of the asset composition and how it relates to the liabilities and includes calibrations for a number of the risk modules. It also covers business-critical elements such as the Matching Adjustment and why this is under review.<\/p>\n

 <\/p>\n\n\n\n\n\n\n
Date<\/td>\n14th of May 2024<\/td>\n<\/tr>\n
Time<\/td>\n09:30 – 16:30 UK Time<\/td>\n<\/tr>\n
Duration<\/td>\n6 hours<\/td>\n<\/tr>\n
Price<\/td>\nGBP 774 (incl. VAT)<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Training Objectives<\/strong><\/p>\n

By the end of the programme, participants will:<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Solvency II\u2019s objectives<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>How Solvency II tries to quantify an insurer\u2019s liabilities and assets under an expected and a stressed scenario<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>The many different elements of Solvency II and how they interact<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>How some of the risk modules are calibrated<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>The particular impact of Solvency II on life insurers<\/span>\u00a0<\/span><\/p>\n

 <\/p>\n

Training Outline\u00a0<\/strong>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Introduction and overview, the regulation\u2019s objectives<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Base case scenario:\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u2022 <\/span><\/span>Best Estimate Liabilities, reinsurance and asset market value\u00a0<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u2022 <\/span><\/span>The Long Term Guarantee Package, bond credit spreads and the Matching and Volatility Adjustments, asset-liability\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0management and Interest rate risk<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Stressed scenario \u2013 the Solvency Capital Requirement<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u2022 <\/span><\/span>Adjustments for Loss-Absorbing Capacity<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u2022 <\/span><\/span>Liabilities \u2013 Standardised calibrations and Partial Internal Models<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u2022 <\/span><\/span>Assets \u2013 Standardised stresses<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u00a0\u2022 <\/span><\/span>Diversification benefits and the Risk Margin, Transitional Measures and Resets<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Own funds constituents and the cover ratio<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Pillar Two \u2013 stress tests, governance<\/span>\u00a0<\/span><\/p>\n

\u00a0\u2022 <\/span><\/span>Review<\/span><\/p>\n

 <\/p>\n

Industry Expert | Michael Stafferton<\/strong><\/p>\n

\"Michael<\/p>\n

Michael began his financial markets career in 1986 on the Financial Engineering desk at Yamaichi International, then one of the so-called \u2018Big Four\u2019 Japanese securities houses. The desk was mainly responsible for designing, structuring and swapping vanilla and structured bond issues for European clients. He then moved to a coverage role, predominantly in the UK and Eire, with responsibility for some of the more technically demanding clients, including the Bank of England and the European Investment Bank. He greatly expanded the volume of deals done, including a government, major banks, building societies and corporates. The role also involved working on UK privatisations and with the bank and fund management arm. In 1994 he moved to Kleinwort Benson with responsibility for debt, convertible and tax-structured origination with a number of top UK companies and helped launch an FRN. He has been training across a wide spectrum of cash instruments, derivatives, commodities and in risk management and regulation since 1999, at up to senior management level globally, his clients comprising mainly the top tier investment banks and fund managers, and is the author of a textbook on credit derivatives (Credit Derivatives Workbook, Euromoney, 2004). He is an Associate with Moody\u2019s.<\/p>\n

 <\/p>\n

Who Should Attend\u00a0<\/strong><\/p>\n

This course is ideal for:<\/span>\u00a0<\/span><\/p>\n

\u2022 All insurance firm staff, in particular:<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u2022 Senior managers<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u2022 Compliance officers<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u2022 Finance\/control staff<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u2022 Internal auditors<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u2022 Investment managers<\/span>\u00a0<\/span><\/p>\n

\u00a0 \u00a0 \u00a0 \u2022 Marketing officers<\/span>\u00a0<\/span><\/p>\n

\u2022 Insurer investors<\/span>\u00a0<\/span><\/p>\n

 <\/p>\n

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