Solvency II


Thorny Issue

Solvency II is due to become the basis of European regulation from 2012, and the industry and regulatory body in Gibraltar, as in the rest of the EU, is working hard to gear up for its implementation.

GIA has a sub-committee which is working to unravel the mysteries of SII on behalf of the Gibraltar insurance industry – Clearly Solvency II will mean different things to different organisations, and the sub-committee has accordingly set its objectives as:

* Knowledge sharing for the benefit of the membership.
* Liaison and consultation with the FSC on behalf of the membership.
* Facilitation of seminars and courses for the benefit of the membership.

As the situation develops we will post developments on the main part of the website, but below are some essential links:

Latest News on Solvency II

EIOPA regularly publish Solvency II updates – read them here

GIA Solvency II Sub-Committee

Minutes will be published by the Committee from time to time and placed on the Minutes and Agendas page (note you will need to be logged in to view)

For 2012 Committee Chairman Robin Amos has also produced an annual report, summarising developments during the year, which can be found here.

The Chairman of the Solvency II Committee also sits on a Joint Steering Committee with Government and the FSC to deal with transposition of the Solvency II Framework Directive 2009/138/EC into Gibraltar law.

The current draft of new regulations to transpose can be found here, concordance table here and latest report from the JSC here.

Here you will find information and articles on Solvency II:

The Financial Services Commission website provides information on Solvency II from the Gibraltar FSC perspective – find it here