Solvency II
Directive 2009/138/EC of the European Parliament and Council on the taking-up and pursuit of the business of Insurance and Reinsurance. Establishes a risk-based regulatory framework for EU insurance and reinsurance companies built on three pillars: quantitative requirements (capital, valuation), governance and risk management, and reporting and disclosure. In force since 1 January 2016; regulated by EIOPA.
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Framework Domains (6)
Group
| Code | Title |
|---|---|
| SII-GRP-17 | Group supervision |
Pillar 1 Quantitative
| Code | Title |
|---|---|
| SII-LAC-19 | Loss absorbing capacity adjustments |
| SII-P1-IM-16 | Internal model governance |
| SII-P1-MCR-02 | Minimum Capital Requirement floor |
| SII-P1-OF-04 | Own funds classification and tiering |
| SII-P1-SCR-01 | Solvency Capital Requirement calculation |
| SII-P1-TP-03 | Technical provisions valuation |
| SII-VA-20 | Volatility adjustment and matching adjustment |
Pillar 2 Governance
| Code | Title |
|---|---|
| SII-INV-18 | Prudent person principle for investments |
| SII-P2-ACT-10 | Actuarial function |
| SII-P2-CMP-08 | Compliance function |
| SII-P2-FIT-12 | Fit and proper requirements |
| SII-P2-IA-09 | Internal audit function |
| SII-P2-ORSA-05 | Own Risk and Solvency Assessment |
| SII-P2-OUT-11 | Outsourcing of critical functions |
| SII-P2-RM-07 | Risk management function |
| SII-P2-SYS-06 | System of governance |
Pillar 2: Governance and Risk Management
System of governance, key functions, ORSA, and supervisory review (Articles 36-49)
| Code | Title |
|---|---|
| SII-P2-01 | General Governance Requirements |
| SII-P2-02 | Fit and Proper Requirements |
| SII-P2-03 | Risk Management Function |
| SII-P2-04 | Own Risk and Solvency Assessment (ORSA) |
| SII-P2-05 | Internal Control System |
| SII-P2-06 | Compliance Function |
| SII-P2-07 | Internal Audit Function |
| SII-P2-08 | Actuarial Function |
| SII-P2-09 | Outsourcing Requirements |
| SII-P2-10 | Supervisory Review Process |
| SII-P2-11 | Remuneration Policy |
| SII-P2-12 | Written Policies |
Pillar 3 Disclosure
| Code | Title |
|---|---|
| SII-P3-QRT-15 | Quantitative Reporting Templates |
| SII-P3-RSR-14 | Regular Supervisory Report |
| SII-P3-SFCR-13 | Solvency and Financial Condition Report |
Pillar 3: Reporting and Disclosure
Public disclosure (SFCR), supervisory reporting (RSR), and quantitative templates (Articles 35, 51-56)
| Code | Title |
|---|---|
| SII-P3-01 | Solvency and Financial Condition Report (SFCR) |
| SII-P3-02 | Regular Supervisory Report (RSR) |
| SII-P3-03 | Quantitative Reporting Templates (QRTs) - Annual |
| SII-P3-04 | Quantitative Reporting Templates (QRTs) - Quarterly |
| SII-P3-05 | SFCR Section A: Business and Performance |
| SII-P3-06 | SFCR Section B: System of Governance |
| SII-P3-07 | SFCR Section C: Risk Profile |
| SII-P3-08 | SFCR Section D: Valuation for Solvency Purposes |
| SII-P3-09 | SFCR Section E: Capital Management |
| SII-P3-10 | Group Reporting |
| SII-P3-11 | Audit Requirements |
Your Compliance Coverage
If you comply with Solvency II, you already cover:
IRM Enterprise Risk Management Framework (Institute of Risk Management)
14%
6 controls mapped
Compare →SASB Standards (ISSB Integrated)
14%
6 controls mapped
Compare →Authorised Economic Operator (AEO) Programmes - Global Standards
14%
6 controls mapped
Compare →+ 198 more: WCO Authorised Economic Operator (AEO) Framework (12%), SEC Climate Disclosure Rule (12%)
See all 201 mapped frameworks ↓Maps to 201 other frameworks
Frequently Asked Questions
What is Solvency II?
Solvency II is a compliance framework from European Union with 6 domains and 43 controls. Directive 2009/138/EC of the European Parliament and Council on the taking-up and pursuit of the business of Insurance and Reinsurance. Establishes a risk-based regulatory framework for EU insurance and reinsurance companies built on three pillars: quantitative requirements (capital, valuation), governance and risk management, and reporting and disclosure. In force since 1 January 2016; regulated by EIOPA. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does Solvency II have?
Solvency II has 43 controls organised across 6 domains. The largest domains are Pillar 2: Governance and Risk Management (12 controls), Pillar 3: Reporting and Disclosure (11 controls), Pillar 2 Governance (9 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does Solvency II map to?
Solvency II maps to 201 other compliance frameworks. The top mapping partners are IRM Enterprise Risk Management Framework (Institute of Risk Management) (14% coverage), SASB Standards (ISSB Integrated) (14% coverage), Authorised Economic Operator (AEO) Programmes - Global Standards (14% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with Solvency II compliance?
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