- Country: Albania
- Summary: Actuarial Consulting Firm to Provide Technical Assistance and Training on Solvency Ii Implementation
- ALT Ref No: 106117208
- Deadline: 03 Sep 2024
- Financier: World Bank (WB)
- Purchaser Ownership: Government
- Tender Value: Refer Document
- Notice Type: Tender
- Document Ref. No.: 0002010209
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- Description:
- World Bank (WB) launched in 2023 a new four-year technical assistance project in Albania financed through the Finance for Development (F4D) Program. The project scope is to:1.stimulate development of access to finance for Albanian MSMEs, including in priority sectors, such as agriculture, through diversification, innovation, and greening of financial services.2.further strengthen capacities of the Albanian Financial Supervision Authority (AFSA) to supervise the insurance sector, and private pension funds.3.Strengthening financial resilience to climate and disaster shocks, including integrating disaster risk financing into government macro-fiscal policy, closing insurance protection gap for households against earthquakes and for farmers against climate shocks.Under the second objective, the project will support AFSA support in strengthening regulation and supervision of insurance sector. Solvency II implementation is one of the key priorities of AFSA-s strategy in the context of the country-s preparations for EU accession. It is expected to bring competitive advantages for professional insurers, contribute to the sound development of the insurance sector, and promote the role of insurance in the country-s economy. However, the adoption of Solvency II risk-based requirements entails numerous technical and organizational demands on insurance companies and AFSA. Therefore, it is essential to prepare the supervisor and market and provide for transitional measures, which ensure that Solvency II will have a gradual effect on the capital requirement and compliance by insurance companies. To address the challenges of implementation, with the WB support, AFSA has adopted a roadmap towards Solvency II.The World Bank seeks to hire an international actuarial consulting Firm (the “Consultant”) specialized in consulting, and high expertise in areas of (re)insurance, actuarial, capital modeling and solvency, ORSA and regulatory reporting in the context of Solvency II, experience in...
- Documents:
Draft-Albania-ToR-Atuarial-consultancy-firm.docx
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CLICK HERE TO LOGINActuarial Consulting Firm to Provide Technical Assistance and Training on Solvency Ii Implementation - Albania Tender
The WORLD BANK(WB), a Government sector organization in Albania, has announced a new tender for Actuarial Consulting Firm to Provide Technical Assistance and Training on Solvency Ii Implementation. This tender is published on AlbaniaTenders under ALT Ref No: 106117208 and is categorized as a Tender. Interested and eligible suppliers are invited to participate by reviewing the tender documents and submitting their bids before the deadline on 2024-09-03.
The estimated tender value is Refer Document, and full details, including technical specifications and submission requirements, are provided in the official tender documents. Ensure all submissions meet the criteria outlined to be considered for evaluation.
