Leveraging Work for Solvency II

The work on the European regulatory framework Solvency II and on the project for the successor of the IFRS 4 accounting standard (which finally turned out to be IFRS 17) started both in the first years of the millennium. Both frameworks have subsequently been developed in parallel for many years, with Solvency II becoming effective for the first time for calendar year 2016 and IFRS 17 for 2023.