The Korea Accounting Standards Board (KASB, Chair: Eui-Hyung Kim) agreed on 25 May 2018 to issue a new insurance contract standard, K-IFRS 1117 Insurance Contracts, the Korean translation of IFRS 17 as issued by the IASB. K-IFRS 1117 will be subsequently submitted to the Financial Services Commission (FSC) for endorsement; and upon the endorsement, K-IFRS … Read More
On 21st and 22nd of March, SecondFloor and Shanzer Risk Management organize two intensive days to explore the capabilities of SecondFloors’ powerful risk & regulatory software. Actuarial staff from selected insurers will participate in this workshop hosted by KPMG. For the Israeli market SecondFloor introduces the “iQRT – Solvency II package” implemented with eFrame® – … Read More
The insurance branch for one of the larger financial services groups in the Nordic region migrated to eFrame – Enterprise edition. SecondFloor’s Enterprise Risk Reporting solution will replace multiple existing solutions to streamline Solvency II reporting. Insurers often started Solvency II implementation at least 5 years ago. Vendors had developed functionality to meet Solvency II … Read More
Lookout from our CEO – Bart Oortwijn Looking back on 2017 SecondFloor has developed strongly, as specialist in the niche market for insurance risk management. Last year we realized a 100% growth in number of clients and extended our partner network to be better connected with the market. We have improved client relationships and became … Read More
We are pleased to announce that during the 4th quarter of 2017, RNA Analytics and SecondFloor agreed a strategic association. The aim of this collaboration is to combine the expertise of each party in order to provide clients with complete, scalable, end-to-end solutions in the global insurance risk market. RNA Analytics and SecondFloor have an … Read More
After the analysis of the 2016 SFCR’s published this year, EIOPA today issued a supervisory statement with improvements for future reporting. In general reports are published on time and complied with the Solvency II requirements. However improvements of the quality of the future reports are needed. Our solutions efficiently address key improvements required by EIOPA: … Read More
We are pleased to announce that during the 4th quarter of 2017, SecondFloor and Posthuma Partners signed a strategic partnership. The aim of this partnership is to serve the European Insurance Market better when it comes to Actuarial software and Solvency II solutions. The partnership brings together two excellent software modules, developed by highly experienced … Read More
The development of the common supervisory culture was a key theme at the EIOPA 7th Annual conference in Frankfurt. Participants confirmed that common regulation is established by EIOPA with the Solvency II regime, and the next step would be common supervision across jurisdictions. EIOPA shared its views about convergence in the brochure “A Common Supervisory … Read More
As an Insurer you must have heard that after the 3rd quarter of 2017, EIOPA decommissions their T4U support. T4U was created to offer undertakings a basic tool to create, amend and validate reports, and produce XBRL. With the decommissioning of T4U, for you as an insurance company, it is important to find a hassle-free … Read More
We are very pleased to announce that OZK-Insurance AD selected SecondFloors’ Solvency II Light – XBRL conversion for quarterly and annual reporting towards their regulator. About OZK-Insurance AD JSIC OZK-Insurance AD (previously known as Municipal Insurance Company AD) was established in 1996 with a majority shareholder Sofia Municipality. In 2008, the municipality share was subject … Read More
Tuesday 7th of November, from 08.30 until 10.00 o clock, SecondFloor and partner Arithmetica host a Business Breakfast session regarding modern and innovative Solvency II solutions. The session will be held at Arithmetica’s headquarters: Deutschmeisterplatz 2, 1010 Vienna. Nowadays, the application of Solvency II is an essential task held by small, medium and large insurance … Read More
Since the second quarter of 2017, more than 20 insurance companies, both in the Netherlands and various other European countries, have come to SecondFloor in order to get supported through our Solvency II Service. And we are pleased to announce this includes Loyalis in the Netherlands. Loyalis Loyalis is a subsidiary of APG Group which … Read More