axeed SOL II

Solvency II is a fundamental reform in the field of the observation of European insurance companies. Its target – harmonizing the requirements for solvency and risk management.

With its 3-columns concept, axeed SOL II covers column I; risk analysis for the calculation of the current market, life insurance and credit risk criteria to determine the MCR (Minimum Capital Requirements), BSCR (Basic Solvency Capital Requirements) and SCR (Solvency Capital Requirements).

Solvency II calculates the SCR by using the so-called standard formula or an internal model. The standard formula considers different insurance specific risks and operational risks, e.g. in case of life insurances the capital requirements for an increase of the mortality ratio of 15% is calculated. Operational risks reflect risks which can be caused  by fault or wrong in-house processes, by staff or external incidents.

The calculation of the SCR with the standard formula is based upon regulatory stress scenarios for the relevant risk factors such as interests, currency rates, spreads, liquidity, return flows, mortality rates, etc. The scenarios effect the valuation models for the finance and insurance instruments and produce partial SCR values, which are than aggregated for each risk factor and risk category over regulatory correspondence matrices across  the hierarchical SCR-structure.

SOL II determines all calculation results based upon the clients’ raw data; they are available ad hoc, online or in the form of an pdf report.

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