On 16 November 2005, the Council and the European Parliament adopted Directive 2005/68/EC on reinsurance. The Directive forms part of the European Union’s Financial Services Action Plan, which aims to create a single market in financial services in the European Union.

According to Article 64 (1), the deadline for transposing the Directive is the 10th of December 2007

There are definitely challenges, but also opportunities after December, 2007. This directive gives you the freedom to passport your services. Upon authorization, reinsurers are able to carry out business in any of the EEA States either through a branch, or directly under the freedom to provide services.

Although Special Purpose Vehicles (SPVs) are not reinsurance undertakings, they do conduct reinsurance-like activities. SPVs receive their authorisation in accordance with Article 46. Member States can ask for supplementary supervision within the scope of their national legislation. We will discuss the risks and the opportunities of using SPVs.

Reinsurance allows direct insurance undertakings have a higher underwriting capacity and reduce their capital costs. It plays a very important role in the global financial system. The interaction of the Reinsurance Directive with Solvency ii is a very important part of this presentation.

The Solvency ii Association has signed an exclusive worldwide partner agreement with Solvency II Training Ltd, so the Association will provide Solvency II Training classes worldwide only in cooperation with Solvency II Training Ltd.

Solvency II Training Ltd is a niche training consultancy, specialising in the provision of Solvency II training programs to organisations & individuals within the European Union (EU), European Economic Area (EEA) & Non-EEA Countries, including the Offshore Financial Centres (OFCs).

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