Solvency II

Solvency II is a new European system of supervision that is intended to provide supervisory authorities with the best qualitative and quantitative tools required to assess the overall solvency of an insurance undertaking with sufficient accuracy.

Solvency II represents a fundamental review of the capital adequacy regime for the European insurance industry. Its aim is to establish a revised set of EU-wide capital requirements and risk management standards to replace the current solvency requirements. Its objective is to create methods for the risk-based control of the overall solvency of insurance undertakings. The previous, static, system for determining capital requirements is now being replaced by a risk-based system that surpasses the previous capital requirements stipulated by insurance supervision legislation and, above all, also takes account of qualitative elements such as management and internal risk management.

Solvency I, which was introduced in the early 1970s, was a minimum harmonisation directive. It allowed for differences to emerge in the way that insurance regulations were applied across Europe, which led to the establishment of different regimes. It was also primarily focused on capital adequacy for insurers and did not include requirements for risk management and governance within insurance firms.

The aim of Solvency II, however, is to achieve consistency throughout Europe and includes the following key ideas:

  • market consistent balance sheets 
  • risk-based capital 
  • own risk and solvency assessment (ORSA)  
  • senior management accountability  
  • supervisory assessment

The contents of this part of the Insurance Supervision Agency website are intended to provide readers with general information on Solvency II, to explain the latest developments and to provide a single source from which all relevant documents can be downloaded.

Disclosure of information on the exercise of options under Directive 2009/138/EC

Under the provisions of the Commission Implementing Regulation (EU) 2015/2451 laying down implementing technical standards with regard to the templates and structure of the disclosure of specific information, supervisory authorities of EU Member States are obliged to disclose the manner of exercise of the options provided for by the Directive 2009/138/EC in the local legislation. Supervisory authorities disclose this information in the form, prescribed in the aforementioned Commission Implementing Regulation.

Disclosure of information regarding the exercise of options under point (d) of Article 31(2) of Directive 2009/138/EC



Union legislation in the field of insurance regulation that is directly applicable within the territory of Slovenia

Eiopa Guidelines


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