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
Could the FCA follow the Australian regulator’s claims lead?
After Australia’s financial regulator sent a letter to the country’s general insurance firms asking for improvement in claim handling practices, Vitesse’s CEO Philip Mcgriskin asks could the Financial Conduct Authority take a similar approach.
UN creates NZIA replacement
The United Nations Environment Programme has replaced the now-discontinued Net Zero Insurance Alliance with a multistakeholder forum, although most former UK-based NZIA members have yet to join.
Q&A: Nick Pester, Beyond Legal
Nick Pester, founder at Beyond Legal and former general counsel at Zego, spoke to Insurance Post about the changing legal landscape, the pivoting mindsets of insurtech founders, and what he hopes to offer clients with his new legal practice.
Irish guidelines for assessing damages to push up premiums
Aine Tyrrell, partner at law firm DAC Beachcroft, explains why fresh guidelines for the assessment of damages in Northern Ireland could add to the costs faced by insurers and contribute further inflationary pressure to premiums for liability and motor products.
FCA to work with Big Tech on sharing data with insurers
The Financial Conduct Authority intends to examine how Big Tech firms’ datasets could unlock better insurance products, more competitive prices, and wider choice for customers.
How to support insurance customers in vulnerable circumstances
As the Financial Conduct Authority intends to check claims-handling response times, and whether insurers are doing enough to help customers in vulnerable circumstances, Winn Group chief information officer Clint Milnes explains what providers need to do to meet the watchdog’s expectations.
FCA urges insurers to do more for tourists with health issues
A Financial Conduct Authority review of signposting rules for tourists with pre-existing medical conditions has raised concerns about fair value and concluded travel insurers can do more to help tourists with health issues.
Campaigners demand ‘polluters pay’ in letter to insurance CEOs
The campaign groups of the Insure Our Future network have sent a letter to leading fossil fuel insurers, detailing a list of demands relating to sustainability and climate action.
Most read
- LV’s Mike Crane leaves insurer
- ABI sets out principles to address motor premium finance
- Copart confirms delays to Luton Airport salvage operation