The Commission services have sent CEIOPS the following Call for Advice along with the final technical specifications for the fifth quantitative impact study on Solvency II (QIS5). European insurance and reinsurance undertakings, including captive ones, are being asked to participate in the QIS5 exercise from August to November 2010. CEIOPS will publish the report on the results of the QIS5 exercise in April 2011.
The final specifications for the fifth quantitative impact study published this week by the European Commission, are a slight improvement for the insurance industry compared to the draft specifications, but the broad themes remain the same.
QIS5 was billed as the final impact study before Solvency II comes into force at the end of 2012. However, it is now widely expected that there will be a QIS6, although this has yet to be formally acknowledged.
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