The final technical specification for the fifth Quantitative Impact Study (QIS5) exercise was published on 6 July 2010. As this is likely to be the last comprehensive QIS exercise, the European Commission and supervisors have emphasised the importance of good quality submissions to enable all key stakeholders to understand the impact of the introduction of Solvency II. This paper analyses the QIS5 publication, the main areas of debate and some of the practical difficulties that may be faced in completing the exercise.
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