24/8/2010
By Sophie Baker
The Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS) has published a spreadsheet to support the QIS5 exercise relating to Solvency II.
The spreadsheet will be used by solo undertakings and groups to aid them in completing their QIS5 submission, which is due at the end of October 2010 for solo, and mid-November 2010 for groups.
CEIOPS said the exercise is a milestone for the EU Commission, supervisors and industry, since its results will provide the input necessary for the implementation of Solvency II, and for the final calibration of the new solvency capital requirements.
The Committee has already produced a list of supporting material on the QIS 5 webpage, which features translation packages, tools to help handle some of the more intricate risk modelling and dedicated spreadsheets to help use simplified modelling.
A Q&A document is also available on the website integrating answers to practical questions which have an EU relevance. The document is one of the main elements used for increasing practical convergence among participating undertakings and national supervisors, said CEIOPS.
