The Committee of European Insurance and Occupational Pension Supervisors (CEIOPS) will conduct a fifth quantitative impact study (QIS) in order to gather input for measures relating to the implementation of the Solvency II directive in 2012.
CEIOPS conducts QISs to aid the development of the proposed risk-based capital regulatory plan. The results of the fourth QIS were published in a full report in December 2008, see our blog on this report here.
Although no date has yet been set for the fifth QIS, Ben Carr, a national expert in the insurance and pensions unit in the internal market directorate general of the European Commission, has said that it will definitely be carried out.
The fifth QIS will focus on the Level 2 measures of Solvency II. These are measures concerned with the implementation of the proposed directive. Mr Carr said that another QIS will give insurance market participants a chance to comment on the measures and help those drafting the new regime to understand whether what they are preparing is in line with the high-level objectives of Solvency II.