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Implementation of Solvency 2 in Slovenia

A comprehensive look at the implementation of Solvency 2 in Slovenia, including requirements, experiences, and ongoing developments in regulatory standards for insurance firms in the European Union. Explore the framework, implementing measures, and current challenges in meeting Solvency 2 guidelines.

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Implementation of Solvency 2 in Slovenia

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  1. Implementationof Solvency 2 in Slovenia mag. Mateja Slapar Zavarovalnica Triglav, d.d.

  2. Agenda • Requirements of Solvency 2 • Experience in Slovenia • Current issues

  3. Fundamental review of regulatory requirements for insurance firms that operate in the European Union L1 Solvency 2 Directive - framework setting out basic principles, defining the solvency system L2 Implementing measures – formulating more detail, technical rules RequirementsofSolvency 2

  4. Experiance in Slovenia • Stress test in 2011, LTGA in 2013, stress test in progress • First draft of Insurance law implementing the S2 (Ministry of Finance, Insurance supervision agency and Insurance Association) • In Actuarial association – discussions with supervisors about technical issues arising in QIS study’s

  5. Current issues / developments • Pillar 1: • stress test in progress • Work on shorteningthe time period to produceresults,improvingtheresultsquality • Improvedunderstandingof standard formula, USP • Pillar 2: • Implementing measures – preparation on Solvency 2 (corporate governance, ORSA, reportingrequirements, internal models) • Corporategovernance, riskmanagement, ORSArequirementsimplementation – gapanalysisbetweencurrentand S2 requirements • Still some areas that are not clear! • Pillar 3: • QRTs – whatneeds to bereported, avtomatizationofdatapreparation • ORSA report

  6. Questions?

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