A general overview of Solvency II for Directors of Insurance companies: Pillar I, Pillar II, Pillar III

Intake Opening Soon 16:00 - 19:00 Mid-Level

The workshop will strengthen the participants’ knowledge on the three pillars of Solvency II and provide insight as to what are the roles and responsibilities of the Board of Directors in relation to the implementation of the Solvency II requirements by insurance companies

Description

The workshop will provide an overview of the requirements emanating from the three pillars of the Solvency II and will be primarily focusing on the roles and responsibilities of the Board of Directors of Insurance Companies to ensure that these are compliant with the regulatory requirements.

 

Topics covered

  • Why Solvency II came to existence?
  • General overview of the regulatory framework structure, the three-pillar structure and the main features
  • Update on the 2020 review of Solvency II
  • Overview of the Solvency II requirements in relation to Pillar I
  • Overview of the Solvency II requirements in relation to Pillar II focusing on the roles and responsibilities of the Board of Directors
  • Overview of the supervisory reports and disclosures emanating from Solvency II requirements
  • The roles and responsibilities of the Board of Directors in relation to quantitative and qualitative reporting

Learning Objectives

Obtain a clear understanding of:

  • the Solvency II requirements in relation to all the three pillars
  • the roles and responsibilities of the Board of Directors in relation to the implementation of the various requirements emanating under the different pillars
  • monitoring and oversight expected to be carried out by board members particularly those who are responsible for outsourced functions/activities

Target audience

Individuals who:

  • are already appointed on the Board of Directors of insurance companies;
  • are already appointed as a board member on the board of an insurance undertaking and intend or are being proposed to take on the oversight role of a key function or critical/important function;
  • are considering to take on an appointment as a member of the board of an insurance company;
  • have an interest in the subject and already have a basic understanding of Solvency II requirements.

Delivery

In person at MITC Training premises.

Live streaming of this session will also be available.

Training Venue

MITC Training Centre
Centris Business Gateway II, Level 4,
Triq is-Salib tal-Imriehel Zone 3,
Central Business District,
Birkirkara

 

Companies effecting group bookings (four or more participants) are entitled to a 15% discount.

 

Trainers

Luciano Micallef, FCII, MSc Risk Mngmt, BSc Fin Serv (Hons), Aifs

Luciano Micallef is the Deputy Head of the Insurance and Pensions Supervision function within the Malta Financial Services Authority (MFSA) which is the single regulator of financial services in Malta.

Luciano started his career in the insurance industry where he spent 15 years working mostly in the non-life sector. He joined the MFSA in February 2012 and is currently managing a team responsible for the prudential oversight of authorised insurance and reinsurance undertakings, insurance intermediaries, retirement schemes, retirement funds and retirement plan service providers, including business carried out in an EU Member State or EEA State, either through establishment or under freedom to provide services. The primary area of responsibility is ensuring that license holders implement an effective system of governance and risk management system in line with the applicable regulation.

He is a Fellow of the Chartered Insurance Institute, an Associate of The London Institute of Banking and Finance, holds an Honours degree in Financial Services, and a Masters degree in Risk Management.

Alfred Parnis, FIA, CPA, Executive MBA (Melit.)

Alfred Parnis joined the MFSA over 20 years ago and is currently Deputy Head of Insurance and Pensions Supervision responsible for the prudential supervision of insurance and reinsurance undertakings, insurance intermediaries and pension operators.

Mr Parnis is a Certified Public Accountant and holds an MBA from the University of Malta.

 

I'm interested in this course

If you are interested to join this course when the intake is open please fill in the form below.

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