The second meeting summarizing “The signals from the market” took place on 28 January 2008.
The following issues were raised:
- Panel 1: Update of work on Solvency II and the importance of the Fourth Quantitative Studies QIS4.
- Panel 2: Implementation of the principle of proportionality, in particular for SME.
- Panel 3: Solvency of Groups
- Panel 4: The Internal Models
The General Director of Internal Market and Services, Jörgen Holmquist delivered the closing public hearing. He drew attention to the fact that the introduction of Solvency II would establish global standards and it is important to keep the established time frame. QIS3 study was considered as a success, showing a good response to market-based approach to capital exposed to risk.
QIS4 enable CEIOPS to prepare the ground for future measures of the level 2 implementation.
Jörgen Holmquist underlined the importance of CEIOPS and the need for greater convergence of insurance supervision, similarly as it was highlighted for all level 3 committees in the review of the Lamfalussy.
The summary of the day
Presentations on the panel can be found at: