Solvency II
PRA chief pours cold water on ABI Solvency II review hopes
Prudential Regulation Authority CEO Sam Woods has sought to temper expectations that the ongoing review of Solvency II will free up significant amounts of capital held by the UK insurance sector.
For the record: Aviva disposals, Beazley creates digital unit, Fenchurch & Partners launches, new D&O MGA Rising Edge and Zurich invests in insurtech
Post wraps up the major insurance deals, launches and investments of the week
Industry urges rapid action on reforms as Solvency II and future of regulation reviews close
Following "data not dates" means there is no need to delay regulatory reforms where there is common ground, experts told the audience at the Association of British Insurers’ annual conference yesterday alongside calls for the watchdogs to have a…
EU 'likely' to follow UK's lead on Solvency II changes to free up investment capital
The European Union would likely follow the UK’s lead were it to reform Solvency II rules to free up capital for long-term investments, attendees at the Association of British Insurers’ annual conference have heard.
John Glen MP says more 'clarity' around insurance contracts needed following BI crisis
The insurance industry will play a significant role in supporting economic recovery as the United Kingdom emerges from lockdown, Economic Secretary to the Treasury John Glen MP has said, as he urged for more "clarity" around what insurance covers going…
Vital that valid BI claims are settled quickly after test case, ABI chair Jon Dye tells insurers
The dispute over business interruption cover has undoubtedly been difficult and most people will have only seen one set of headlines about the insurance industry during the pandemic, Allianz UK CEO and Association of British Insurers chair Jon Dye told…
Insurance affordability and availability issues do not equate to market failure: ABI's James Dalton
The Covid-19 pandemic has not led to market failures in the UK insurance sector, James Dalton, director of general insurance policy at the Association of British Insurers, has said.
Trade Voice: Bill Batchelor on the place of insurance in EU-UK trade after Brexit
Bill Batchelor, partner at Skadden, Arps, Slate, Meagher & Flom and British Insurance Law Association member, casts his eye over the implications of the EU-UK Trade and Cooperation Agreement, signed on 30 December, for the insurance sector and considers…
Ex-ABI leader Hugh Savill joins Sicsic Advisory
Hugh Savill, the Association of British Insurer’s director of regulation for 17 years, has joined boutique financial services risk and regulation consultancy Sicsic Advisory as a senior advisor, Post can reveal.
For the record: The week in deals featuring Aviva, Brit, Cazoo, CFC, Co-op Insurance and GRP
Post wraps up the major insurance deals, launches and investments of the week
Brexit: Looking forward, looking back
With the Brexit transition period ending on 31 December, Post asked insurance trade bodies and associations about the biggest challenges and changes for the market.
Solvency II review to be tempered by equivalency considerations
Possible changes to the prudential regulations governing UK insurers could be limited by a desire not to stray too far from the EU’s Solvency II regime, a partner at Mazars has told Post.
Top 30 European Insurers 2020: A year of profit
The top 30 European insurers saw growth in non-life premiums in 2019 and overall profit after tax was significantly higher than in 2018. Mathilde Jakobsen, director, analytics, AM Best, explains what the market is facing
Analysis: A tale of two mutuals
Eleven days apart in June, two of the UK’s mutual insurers – Police Mutual and LV – made announcements regarding their futures. Their decisions herald challenging times for the mutual model.
Gable liquidator warns of ‘everlasting’ bankruptcy proceedings as it writes off £72m
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
Briefing: Gefion hopes to go out with a whimper as brokers predict a bang
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.
Insurers' investment earnings face coronavirus blow
Insurers are facing depleted investment earnings this year, as the coronavirus pandemic translates to greater volatility in financial markets and falling bond yields.
Insurance Monitor: Brexit: finding corridors of deviation
In this month's column, David Worsfold, a long-running commentator on the insurance market, explores how the insurance industry could find itself rather lonely in its corridors of deviation after Brexit is finalised, the complexities of Covid-19 for the…
Staveley Head enters administration after insurer contract 'prematurely terminated'
Managing general agent Staveley Head, known to have used Gefion and Qudos capacity, has entered administration.
Gefion barred from expanding scope until ‘serious liquidity problems’ sorted
Danish unrated insurer Gefion cannot enter new lines of business or branch out into further territories until it can meet its solvency capital requirement, the regulator has ordered.
Pukka no longer writing new business with Gefion
Pukka Insure stopped writing new business with Gefion in July, replacing it with two A-rated carriers.
Danish regulator demands action as it identifies ‘serious liquidity problems’ at Gefion
Unrated Danish insurer Gefion Insurance must have liquid assets of at least €5m by the end of the year amid fears by the regulator that the company has “serious liquidity problems.”
Bermudian premier David Burt targets innovative insurers
The Bermudian premier David Burt has sung the praises of his country’s insurance market as a “sandbox” for innovative insurers and called on the London market to collaborate on efforts to drive the sector forwards.
Analysis: Review of the Year 2019
It feels as if 2019 was an uncomfortable year for the general insurance market as it never quite seemed to grasp control of its own destiny. Wherever you look, carefully laid plans were derailed by the unexpected – and often unwanted – intervention of…