25 January 2013
Technical Specifications part II on the Long-Term
Purpose of this document
This document contains part II of the technical specifications for the long-
term guarantees assessment which is carried out by the European Insurance
and Occupational Pensions Authority (EIOPA) on behalf of the European
Commission, the European Parliament and the European Council. It needs to
be applied in combination with part I of the technical specifications.
The assessment tests various hypotheses and scenarios. The inclusion of an
approach in the test should not be understood as pre-empting or in any way
restricting the final agreement on the long-term guarantee measures in the
trilogue for the Omnibus II Directive. The purpose of testing several
approaches is to collect data and provide a reliable basis for an informed
decision on the long-term guarantee measures.
Furthermore, a number of technical assumptions contained in this document
have been made for pragmatic reasons and for the purpose of the
assessment only. These should therefore not to be seen as guidance for the
delegated acts and technical standards for Solvency II. The majority of areas
where pragmatic short-cuts have been taken are marked with a disclaimer,
but potentially not all of them.