Solvency II Review

Significant updates are on the horizon across all three pillars of Solvency II — from technical provision and capital recalibrations (Pillar I), to governance and risk management expectations (Pillar II), and enhanced disclosure requirements (Pillar III). With implementation expected over the next 12 months, now is the time for insurers to assess their readiness and get ready for implementation.

At Finalyse, our Principal Consultants are helping insurers navigate these changes through a structured two-phase advisory approach.

🧮 Phase I – Impact & Readiness Assessment

A focused diagnostic to help insurers understand how the Solvency II Review will affect their balance sheet, governance, and reporting frameworks.

Objectives:
• Identify material areas of impact across capital, models, data, and reporting.
• Assess current readiness and key resource or system gaps.
• Develop a prioritised roadmap to guide internal implementation planning.

 Deliverable:
A concise Readiness Report outlining key impact areas, level of preparedness, and recommended next steps.

🧭 Phase II – Governance & Implementation Alignment

Building on Phase I, this phase helps insurers translate insight into action by strengthening governance, risk management, and implementation practices.

Objectives:
• Align internal models, data flows, and reporting with updated Solvency II requirements.
• Update ORSA, risk policies, and committee structures to reflect regulatory expectations.
• Implement targeted control or governance enhancements.
• Deliver a clear, Board-ready plan for sustainable regulatory compliance.

Deliverable:
A Governance and Implementation Action Plan, including ownership, timelines, and measurable outcomes to ensure effective delivery through to 2027.

These focused phases will help your team understand where you stand – and how Finalyse can support your journey toward 2027.