Munich Re on QIS5 - Bravo

A fantastic summary of QIS5 changes was released at the end of April by Munich Re (my fault for blogging late on it!) - nothing especially new, but it is so concise, as well as simplifying the key messages such as;

• Ticklist of state of readiness issues on p2
• Brilliant comparison of Sol I and Sol II balance sheet changes (not as clear on any EC/EIOPA docs in my view
• Highlights the issue on Op Risk calibration, which despite being over-simplified, is preferred even by model-participating companies as it is so generous!

At 8 pages, it is absolutely the document to have for QIS5 summation, as well as the likely lobbying points for near future.