Every European insurer will be dealing with considerable changes in the solvency demands the next few years. What used to be a simple calculation in 2000, based on the core figures of a portfolio, is part of integrated risk management just a decade later. The new model shows similarities with Basel II and demands a much broader knowledge of risks and risk management than is the case now. Insurers, and also accountants and actuaries must prepare for the consequences of these changes, not only because important organisational adjustments will be necessary.