FSA has published feedback to its DP on insurance risk management in Solvency II. It says it is essential that senior management now engages with Solvency II. Firms should now begin active planning for Solvency II implementation, as the date is now set for the end of October 2012. The paper looks at responses to FSA’s questions, and sets out changes to what FSA said in the original paper following changes to Solvency II. FSA is now planning a Thematic Review linked to its Internal Models Approval Process and aims to publish a first “stock-take” report on key issues at the end of September. It also recommends firms read the various CEIOPS consultation papers as these give good indications of the standards firms will have to meet.
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FSA feeds back on insurance risk management
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