QIS3 - What does QIS3 stand for? The Free Dictionary
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We then calibrate our model to a European Economic Area nonlife insurer average portfolio taken from the QIS3 (Quantitative Impact Study 3) Benchmarking Study of Chief Risk Officer Forum (2007) under the Solvency II standard model (see Committee of European Insurance and Occupational Pensions Supervisors, 2010).
17) These figures are derived from the proportion splits of QIS3 capital charges as shown on pages 39, 41, 43 in the document of the Chief Risk Officer Forum (2007).
Likely benefit larger insurers with sophisticated internal models, as internal models are shown to provide for a 15% to 25% lower capital requirement than that by the standard formula of QIS3