Press Room
Grant Thornton comments on the results of Solvency II's
QIS4
Leading financial and business advisers, Grant Thornton, comment
that the results of the fourth quantitative impact study (QIS4)
into Solvency II show that there will be no major impact on the
balance sheets of insurance companies. In general, an increase in
the capital requirements will be offset by a decrease in the level
of insurance liabilities.
"The results show that the vast majority of companies
participating in the study will meet both the minimum and the
solvency capital requirements. However more detailed technical
definitions are still required in a number of areas, including
future premiums, valuation of options and guarantees, calculation
of future discretionary benefits, calculation of net technical
provisions and the choice between 'own data' and 'market data',"
says Sheaf.
"The participation rate of this study was the highest to date,
clearly indicating that the industry is taking Solvency II
seriously and contributing significant resources and effort. Yet,
there is still a great deal of clarification needed. Based on the
need for more detailed technical information, it is clear that
further work is necessary and this may well take the form of
another quantitative impact study."