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SA2 transitional arrangements

Discussion in 'SA2' started by Sponge, Mar 5, 2018.

  1. Sponge

    Sponge Member

    what are the SII transitional arrangements?
     
    Sponge, Mar 5, 2018
    #1
  2. Lindsay Smitherman

    Lindsay Smitherman ActEd Tutor Staff Member

    Hi. Transitional arrangements allow insurance companies to gradually phase in any increase in technical provisions (for business written before 1 Jan 2016) that arises due to the Solvency II requirements being tougher than the requirements that were previously in place (ie under Solvency I). You would not be expected to know more about these than is included in the short paragraph on them in the Core Reading.

    Hope that helps.
     
    Lindsay Smitherman, Mar 5, 2018
    #2

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