Solvency II is driving changes in insurance companies from the Board through to the wider organisation. For directors, and particularly non-executive directors, this means getting closer to the business: some might say too close. This two part feature examines the effects of Solvency II on the Board. Part one looks at how directors and non-executive directors are handling their new obligations and how this is affecting the composition of the Board.
(Not) so close, yet (not) so far away

Expanding Directors’ skillset
The obligations of the Board set out by Solvency II will mean that individual board members, and in particular non-executive directors, will have to gain new skills and understanding of functions relating to the risk and capital management of the firm.
Legal requirements raising questions
In addition to improving their technical skills, board members need to be fully aware of the legal obligation that Solvency II places on them, both individually and collectively.
Solvency II: changing the composition of the Board
The legal and technical implications for board members could affect enthusiasm for taking up the role, especially for non-executive directors. It could also drive substantial changes in the composition of the Board.
Gender is another big one in this context – once the inevitable gender diversity quotas are imposed across the EU, complying with the articles on System of Governance (particularly Fit and Proper) may be tricky for smaller insurers if they don’t start doing groundwork now. Will be blogging on it shortly
Interesting point Allan, I will look forward to reading your blog.