admin_bruce, Author at The CRO Forum

European harmonization of reporting formats
European harmonization of reporting formats

European harmonization of reporting formats

Thank you for your letter dated 3 June 2008 asking for our views on the European harmonisation of reporting formats. I am pleased to provide you with the CRO Forum answers on your specific questions. Concerning your first question; we agree that the suggested timetable should be in line with the Solvency II project. There are many good reasons for this. Firstly, the current framework differs across jurisdictions and the underlying data is not consistent as Members States apply different valuation bases. Therefore, using the current fragmented supervisory landscape as a starting point for a European wide reporting format would not be appropriate and we need the harmonization of principles that Solvency II brings.

admin_bruce2026-02-11T14:11:12+00:00July 1st, 2008|

Comments on QIS4 Draft Technical Specification
Comments on QIS4 Draft Technical Specification

Comments on QIS4 Draft Technical Specification

It is obvious that the Standard Formula does not exhibit full risk sensitivity at every individual company level, as the sensitivity to risks is individually set e.g. through risk mitigation measures the company might have chosen. We welcome the steps taken in the framework directive to promote good risk management and want to encourage the Commission to appropriately reflect the diversity in risk exposure and risk profiles existing in the insurance industry. Solvency II should make use of data and expertise in the industry to the largest extent possible

admin_bruce2026-02-11T14:11:49+00:00February 18th, 2008|

Solvency II Methodology to calculate the MCR
Solvency II Methodology to calculate the MCR

Solvency II Methodology to calculate the MCR

admin_bruce2026-02-11T14:12:23+00:00January 25th, 2008|

CRO Forum comments on Consultation Paper no. 18
CRO Forum comments on Consultation Paper no. 18

CRO Forum comments on Consultation Paper no. 18

Supervisory Powers - further advice' We welcome the opportunity to comment on this draft advice. The CRO Forum believes it is key to have appropriate harmonisation of supervisory powers, next to an adequate solvency system.

admin_bruce2026-02-11T14:13:45+00:00December 12th, 2007|

A benchmark study of the CRO forum on the QIS III calibration
A benchmark study of the CRO forum on the QIS III calibration

A benchmark study of the CRO forum on the QIS III calibration

The CRO Forum companies have developed internal capital models, which they expect to be approved by the regulators as a basis for setting the level of target capital ('SCR'). The CRO Forum companies have also participated in QIS3.

admin_bruce2026-02-11T14:15:09+00:00November 20th, 2007|

CRO Forum feedback on Solvency II draft Directive
CRO Forum feedback on Solvency II draft Directive

CRO Forum feedback on Solvency II draft Directive

We have been an active participant in the Solvency II discussions that have taken place before the publication of the Solvency II directive promoting a risk-based and economic approach. We have therefore published a number of own initiatives papers on issues covering the cost of capital approach to market value margin (MVM), diversification benefits, internal models and financial risk mitigation and has responded to CEIOPS consultation papers.

admin_bruce2026-02-11T15:19:49+00:00October 14th, 2007|

CRO Forum comments on Consultation Paper no. 20
CRO Forum comments on Consultation Paper no. 20

CRO Forum comments on Consultation Paper no. 20

CRO Forum comments on Consultation Paper no. 20 "Pillar I issues - further advice" We welcome the opportunity to comment on this draft advice. The CRO Forum believes that the issues covered by this Consultations paper are key for the future solvency regulation. In this regard, the CRO Forum welcomes this Consultation paper, which develops further some of the points already discussed in the previous calls for advice. Since then, we believe that the QIS II exercise provided with a lot of useful information and feedback from the industry, and also that the political guidelines from the European Commission have been specified on a number of issues.

admin_bruce2026-02-11T15:20:26+00:00January 23rd, 2007|

CRO Forum comments on Consultation Paper no. 16
CRO Forum comments on Consultation Paper no. 16

CRO Forum comments on Consultation Paper no. 16

CRO Forum comments on Consultation Paper no. 16 "Pillar II issues relevant for reinsurance"

admin_bruce2026-02-11T15:21:10+00:00January 16th, 2007|

CRO Forum comments on Consultation Paper no. 17
CRO Forum comments on Consultation Paper no. 17

CRO Forum comments on Consultation Paper no. 17

CRO Forum's response to CEIOPS Consultation Paper no. 17: draft advice to the European Commission in the framework of the Solvency II project on Pillar 2 capital add-ons for solo and group undertakings We welcome this Consultation Paper from CEIOPS. The CRO Forum supports the inclusion of powers for a capital add-on in the Solvency II framework directive. However, we must emphasise that capital add-ons should be seen as a last resort as expressed, for example, in article 136(2) of the EU's Capital Requirements Directive.

admin_bruce2026-02-11T15:21:43+00:00January 12th, 2007|

CRO Forum comments on Consultation Paper no. 19
CRO Forum comments on Consultation Paper no. 19

CRO Forum comments on Consultation Paper no. 19

CRO Forum comments on Draft advice on Consultation Paper no. 19 "Safety measures (Limits on Assets)" The CRO Forum appreciates CEIOPS' further development of principles for the formulation and application of the supervisory tool 'Pillar II capital add-on', and welcomes the opportunity to comment on this draft advice.

admin_bruce2026-02-11T15:22:19+00:00January 12th, 2007|

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