Länsförsäkringar selects model partner
Swedish insurer Länsförsäkringar has selected Barrie & Hibbert’s economic scenario generator to be used within its Solvency II internal model.
Barrie & Hibbert's ESG will be used in the Solvency II internal model of Länsförsäkringar Life and Länsförsäkringar Non-life.
The group includes 23 local mutual non-life insurance companies across Sweden, a life insurance company, a bank and a real estate agent company. Länsförsäkringar said it provides products and services to more than 3.3 million customers.
Jakob Carlsson, chief financial officer of Länsförsäkringar Life, said: "Länsförsäkringar Life has high ambitions for its Solvency II internal model, which will be at the centre of our business decision making process. We believe our model will give us a competitive advantage since it strengthens risk management and enables more efficient use of capital.
"The Barrie & Hibbert ESG provides best practice models for financial markets, and will help us achieve our goal."
Viktor Knava, EMEA regional manager at Barrie & Hibbert, added: "This partnership further demonstrates the commitment of our team to the Nordic market. We will be working very closely with Länsförsäkringar to ensure they meet their business objectives through the implementation of Solvency II."
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
FCA clarifies approach to non-disclosure agreements
The Financial Conduct Authority has insisted non-disclosure agreements should not prevent whistleblowers working in insurance from sharing the discrimination or harassment they face with the watchdog.
FCA overwhelmed by feedback on naming and shaming
Emily Shepperd, chief operating officer of the Financial Conduct Authority, has said the regulator will “really take our time” when considering its proposed plans to name firms it is investigating before any decision has been made.
Biba CEO Trudgill reveals crushing weight of regulation on brokers in inaugural speech
Biba CEO Graeme Trudgill has urged the FCA to allow brokers a ‘period of stability’ so they can flourish and help the economy following years of rising regulatory workload.
Biba follows ABI in addressing premium finance
Less than a month after the Association of British Insurers published guidance for members providing premium finance to customers, the British Insurance Brokers’ Association has followed suit.
What prompted FCA checks on bullying in insurance?
Jeremy Irving, head of the financial services regulatory practice at law firm Browne Jacobson, considers what could have prompted the Financial Conduct Authority looking into non-financial misconduct in the insurance industry.
Abby Thomas, Financial Ombudsman Service
Abby Thomas, who joined the Financial Ombudsman Service as chief executive and chief ombudsman in October 2022, wants the industry to get better at communicating.
Matt Brewis, FCA
Matt Brewis, the Financial Conduct Authority’s head of insurance, is a man on a mission in 2024, which is why he has climbed to third place on this year’s Insurance Post Power List.
Sam Woods, Prudential Regulation Authority
In the run-up to a general election Sam Woods, chief executive of the Prudential Regulation Authority, has been clear it will be for the government, not regulators, to ensure insurers invest the dividends of forthcoming solvency reforms in the UK.
Most read
- Insurance’s wealthiest figures revealed
- Movers and shakers who made Insurance Post’s Power List 2024 revealed
- Winslow continues Direct Line management overhaul