In June 2022 PRS delivered a workshop on Solvency II with 13 participants of the Albanian Financial Supervisory Authority (AFSA), including actuaries and supervisors.
The training was part of the technical assistance provided under the SECO-funded World Bank project "Enhancing Insurance Supervision Capacities of The Albanian Financial Supervisory Authority (P171065)".
The introduction of the EU Solvency II framework is one of the key priorities of the AFSA’s strategy. It needs to be planned and executed carefully by considering the technical capacities of the insurance sector and its effects on insurers’ capital requirements. To achieve this goal, AFSA wants to understand the requirements and prepare realistic modalities for the introduction and enforcement of the new solvency regime.
Theoretical concepts of insurance, market and credit risks, and the overall Solvency Capital Requirement assessment were explained in the slides and applied with a user-friendly Excel calculation tool. The highly interactive training included practical exercises and extensive discussions with the participants.
We are very thankful to SECO, the World Bank and the AFSA for entrusting us with this important mission!