U.K. insurers plan simple submissions for QIS4

LONDON—Only one-third of U.K. insurers say they will undertake an advanced recalculation of their capital requirements as part of the fourth quantitative impact study on Solvency II, according to a study.

According to a survey by Watson Wyatt Worldwide, up to 80% of nonlife and life insurers in the United Kingdom intend to take part in QIS4, the fourth impact study on the proposed risk-based capital regime.

But of 90 insurers surveyed, only 34% said they would undertake an advanced calculation for the Committee of European Insurance and Occupational Pensions Supervisors' QIS4, while the remainder said their submission to CEIOPS would be based on simple calculations.