QIS 4 reveals solvency differences, Ceiops

Some details of the outcome of the QIS 4 exercise conducted by the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) have emerged ahead of publication of the full results in November. Following a presentation to stakeholders, Ceiops said the test proved that the main risk-based direction of the European Commission’s Solvency II proposal is sound. However, it seems certain that some of the details of Solvency II, particularly for the more difficult areas that have yet to reach agreement between member states, will be left to Level 2 implementing measures.