Solvency II
At Nordisk Aktuarservice, we help insurance companies and captives across Denmark and Scandinavia navigate the requirements of Solvency II. We combine extensive actuarial expertise with practical industry experience, enabling companies not only to comply with regulatory requirements but also to gain a clearer understanding of how Solvency II impacts their business and strategic decision-making.
Our actuaries have extensive knowledge of the entire Solvency II framework and continuously monitor developments in regulation, supervisory expectations, and market practice. This ensures that your organisation applies effective methodologies and processes while remaining compliant with regulatory requirements and turns Solvency II from a compliance exercise into a valuable tool for risk management and business planning.
A brief introduction to Solvency II
Solvency II is the core regulatory framework governing insurance and reinsurance companies across Europe. Its primary objective is to ensure an adequate level of protection for policyholders and beneficiaries. Based on a risk-based approach, Solvency II provides a comprehensive framework for assessing the overall solvency of insurance and reinsurance undertakings through both quantitative and qualitative measures.
Solvency II extends well beyond regulatory compliance. It provides a foundation for informed decision-making by promoting effective risk management, robust governance, and a well-functioning Own Risk and Solvency Assessment (ORSA) process. When implemented effectively, the framework can help insurers strengthen resilience, improve capital efficiency, and align risk-taking with strategic objectives.
Efficient and automated reporting
Reporting is a critical and often resource-intensive component of Solvency II compliance. To help streamline this process, we have developed an efficient reporting framework that automates:
- Solvency Capital Requirement (SCR) calculations
- Data processing and validation
- Completion of QRTs (Quantitative Reporting Templates) and other regulatory reporting forms
The result is a streamlined, robust, and reliable reporting process that reduces manual effort and minimizes the risk of errors.
Working with us
We provide advisory, implementation, and outsourced operational support for Solvency II processes. Our services are tailored to the needs of each organisation, ensuring value whether you require strategic guidance, temporary specialist support, or a long-term operational solution.