Introduction

identifying the main’ solvency II drivers’ and the main characteristics of the European insurance industry;

introducing the risk-based approach to derive the new capital requirement for European insurers;

describing the main ways in which control can be exercised within the insurer’s risk management framework by the insurer itself, and on the insurer by the supervisor according to a risk-based approach;

identifying the market discipline process and the role of supervision under the Solvency II Directive;

presenting the approach to disclosure consistent with the Solvency II third pillar requirements.