Current Advisory Focus
Solvency II Review Readiness Assessment
A clear view of where you stand, what remains open and what genuinely needs management attention
A focused, senior-led assessment for relevant Irish insurers and reinsurers.
The assessment brings together Solvency II Review work already underway, identifies remaining gaps and priorities, and gives management a clear view of the overall readiness position.
Greater confidence. Clearer priorities. Fewer late surprises.
- Senior-led
- Fixed-fee
- Defined scope
- Typically 2–4 weeks
Why firms commission the assessment
Many firms will already have substantial implementation work completed or in progress. The assessment is designed to complement that work, not replace it.
Where do we actually stand?
Is there a clear overall view across the relevant workstreams?
What remains unresolved?
Are there gaps, dependencies, evidence weaknesses or decisions that still require attention?
What matters most?
Are there material capital, balance-sheet, P&L, governance or operational implications that need senior focus?
Are we prepared to explain the position?
Can management give the Board or Risk Committee a clear view and articulate the firm’s approach in supervisory discussion?
Timing matters. As implementation progresses, the same Risk, Actuarial, Finance and senior-management resources will increasingly be required for year-end reporting, planning and Board activity. Identifying remaining issues earlier leaves more room to address them before those competing demands intensify.
What management gets
Confidence in the overall position
A consolidated view of what is complete, what remains open and where further work or decisions are required.
Clear priorities and fewer surprises
Identification of the gaps, dependencies and unresolved decisions that genuinely warrant attention before they become late-stage issues.
Board and supervisory preparedness
A concise, evidence-based view of readiness, material implications and remaining actions to support management and Board oversight and help the firm explain its approach clearly in supervisory discussion.
Greater management focus
A position brought together across Risk, Actuarial, Finance, Compliance and other relevant functions, allowing senior management to concentrate on the issues that matter rather than reconstructing the overall picture themselves.
The objective is to leave management with a defined readiness position and a manageable set of remaining actions.
What the assessment covers
The assessment is structured around nine core areas.
- 01
Regulatory applicability
Relevant Solvency II Review changes and the firm’s assessment of their applicability.
- 02
Implementation governance
Ownership, oversight and decision-making.
- 03
Current-state assessment
Progress across relevant workstreams.
- 04
Gap assessment
Outstanding issues, dependencies and decisions.
- 05
Evidence review
Support for the current readiness position.
- 06
Materiality and business impact
Including relevant capital, balance-sheet, P&L, actuarial, governance and operational implications.
- 07
Prioritised action plan
What requires attention and in what order.
- 08
Implementation roadmap
Remaining actions, ownership and sequencing.
- 09
Executive and Board reporting
A concise view of readiness and material matters.
The scope is agreed in advance and tailored to the firm.
What you receive
- Executive Summary
- Readiness Report
- Gap Register
- Prioritised Action Plan
- Implementation Roadmap
- Board / Risk Committee Pack
- Management Presentation
The outputs are designed to support management decisions and action, rather than create unnecessary documentation.
Focused and proportionate by design
The Solvency II Review Readiness Assessment is a defined, fixed-fee engagement with a clear endpoint.
It does not assume that the firm needs a wider consulting programme. Where existing work is strong, the assessment may primarily provide additional confidence and identify a limited number of remaining actions.
Where more material gaps emerge, management can decide what further action is proportionate. Any implementation support is separately scoped and agreed.
The assessment is an advisory readiness review rather than an audit or assurance engagement.
Whether substantial work is already complete or material questions remain, an initial discussion can establish whether a focused readiness assessment would add useful management confidence and clarity.