Implementation of Solvency 2 in Slovenia mag Mateja

Implementation of Solvency 2 in Slovenia mag. Mateja Slapar Zavarovalnica Triglav, d. d.

Agenda Requirements of Solvency 2 Experience in Slovenia Current issues

Requirements of Solvency 2 Fundamental review of regulatory requirements for insurance firms that operate in the European Union L 1 Solvency 2 Directive - framework setting out basic principles, defining the solvency system L 2 Implementing measures – formulating more detail, technical rules

Experiance in Slovenia Stress test in 2011, LTGA in 2013, stress test in progress First draft of Insurance law implementing the S 2 (Ministry of Finance, Insurance supervision agency and Insurance Association) In Actuarial association – discussions with supervisors about technical issues arising in QIS study’s

Current issues / developments Pillar 1: • stress test in progress • Work on shortening the time period to produce results, improving the results quality • Improved understanding of standard formula, USP Pillar 2: • Implementing measures – preparation on Solvency 2 (corporate governance, ORSA, reporting requirements, internal models) • Corporate governance, risk management, ORSA requirements implementation – gap analysis between current and S 2 requirements • Still some areas that are not clear! Pillar 3: • QRTs – what needs to be reported, avtomatization of data preparation • ORSA report

Questions?