International Accounting Standards

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30 Solvency II Solvency II (SII) The aim of EU solvency rules is to ensure that insurance undertakings are financially sound and can withstand adverse events, in order to protect policyholders and the stability of the financial system as a whole. Sll rules stipulate minimum amounts of financial resources for insurers. Sll will introduce economic risk‐based solvency requirements in EU, more sophisticated than in the past. 30
31 Solvency II Solvency II (cont) Framework will consist of three main ‘pillars’ of regulation Pillar 1 consists of the quantitative requirements – how much Pillar 2 requirements for the governance, risk management and supervision of insurers, Pillar 3 is on supervisory reporting and transparency requirements. 31
Page 1 and 2: International Accounting Standards
Page 3 and 4: 3 IFRS Who IASB, FASB and SEC What
Page 5 and 6: 5 IFRS ‐ Key Players • IASB Int
Page 7 and 8: 7 IFRS On August 27, 2008, the SEC
Page 9 and 10: 9 Current IFRS Current Relevant Gui
Page 11 and 12: 11 IFRS -Open Items Open Items Spec
Page 13 and 14: 13 IFRS IFRS 1 -First Time Adoption
Page 15 and 16: 15 IFRS Significant differences bet
Page 17 and 18: 17 IFRS 4 ‐Phase I • Interim St
Page 19 and 20: 19 IFRS 4 -Phase II May 2007: IASB
Page 21 and 22: 21 IFRS 4 -Phase II Recent discussi
Page 23 and 24: 23 IFRS 4 ‐ Phase II: Recent Disc
Page 25 and 26: 25 IFRS 4 ‐ Phase II: Current Cha
Page 27 and 28: 27 IFRS ‐ Impact of Changes • R
Page 29: 29 IFRS ‐ Impact of Changes • A
Page 33: 33 IFRS ‐ Challenges New challeng

International Accounting Standards

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