Solvency II: 3 pillars and a roof
{"Image DocumentName": "Solvency II: 3 pillars and a roof", "Image ImageDescription": "Pillar 1: quantitative requirements. 1. Harmonised calculation of technical provisions. 2. Prudent person approach to investments instead of current quantitative restrictions. 3. Two capital requirements: the Solvency Capital Requirement (SCR) and the Minimum Capital Requirement (MCR) Pillar 2: qualitative requirements and supervision. 1. Enhanced governance, internal control, risk management and own risk and solvency assessment (ORSA) 2. Strengthened supervisory review, harmonised supervisory standards and practices. Pillar 3: prudential reporting and public disclosure. 1. Common supervisory reporting. 2. Public disclosure of the financial condition and solvency report. (market discipline through transparency) Group supervision. & cross-sectoral convergence. Groups are recognised as an economic entity. => supervision on a consolidated basis. (diversification benefits, group risks)", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}