Solvency II
Gable supportive of new Liechtenstein GI entrants
Liechtenstein-based insurer Gable Holdings would welcome other general insurance companies entering the principality as it revealed it has spoken to the Liechtenstein regulator about companies interested in positioning themselves in the territory.
Europe: Lure of Liechtenstein
Liechtenstein has more companies than citizens, but are UK insurers keen to join its corporate club?
Senior insurance managers' regime rules open to interpretation
The application of the senior insurance managers' regime has been deemed open to interpretation by market commentators, amid predictions brokers could be subject to a similar, more informal, regime in the future.
FCA publishes reformed approved person's regime for SII firms
The Financial Conduct Authority has today confirmed reforms to the approved person's regime for Solvency II firms including changes to governance arrangements and new conduct rules to encourage appropriate behaviour by staff.
Carney must clarify 'scope' of senior managers' regime
Bank of England governor Mark Carney needs to clarify the way the new senior managers' insurance regime interacts with Solvency II, according to one law firm.
SIMR: enhanced responsibility and accountability for senior management
Significant changes are in store for the UK's rules for senior managers of insurance and reinsurance firms, including Lloyd's managing agents and firms not subject to Solvency II.
Carney to unveil new rules for insurance managers this week
Bank of England governor Mark Carney will this week unveil new measures to make insurance managers individually accountable for the failure of their firms, after consulting on proposals earlier this year.
Europe: Almost ready won't wash with regulators on 1 January
If someone were to ask the question of whether insurers are ready for Solvency II, the answer would be, "almost". But this simple response doesn't fully express the extent of work still to be done as we approach the biggest regulatory change the industry…
Europe: Opportunities in Middle and Eastern Europe despite geopolitical risks (26 Feb)
Despite the Russian-Ukraine crisis, 2014 brought hope of a revival for the regional market in Middle and Eastern Europe. Economic prospects have been positive, regardless of the continual geopo
PRA sets December deadline for final decision on SII models
The Prudential Regulation Authority is to make final decisions about firms' internal Solvency II models in December, according to its insurance supervision executive director Sam Woods.
Lure of Liechtenstein questioned as reports of insurer interest surface
The Liechtenstein financial regulator has flagged an uptick in insurance companies looking to establish a presence in the principality despite analyst scepticism about the benefit of the territory as an outpost for UK insurers.
Europe: Solvency II - Getting through the last mile
With Solvency II due to go live on 1 January 2016, there's still a lot of work to do, warns Accountagility's Robert Gothan.
Europe: Breaking up is hard to do
A British exit from the European Union could be voted on as early as 2016, to avoid a clash with the French presidential and the German federal elections.
IRM unveils guidance to ensure Solvency II risk models are 'fit for purpose'
The Institute of Risk Management’s Internal Model Industry Forum has published a guidance document based on its research into the effective validation of risk models created by the insurance industry to comply with the requirements of Solvency II.
Non-Solvency II insurers to avoid PRA regulatory burden
Smaller insurers will not be over-burdened with excessive regulation under the Prudential Regulation Authority's proposals for companies outside the scope of Solvency II, according to market observers.
Motor market constraints not Gibraltar-specific, GIA says
Market constraints that contributed to Gibraltar-based underwriter the Service Insurance Company ceasing to write business are likely to felt by motor insurers Europe-wide and not just in the UK overseas territory, the Gibraltar Insurance Association…
Further insurer run-off expected in Gibraltar as others plot arrival on The Rock
Several Gibraltar-based firms in danger of entering run-off are under intense regulatory scrutiny, according to market insiders, while the British overseas territory's financial watchdog says it has a number of interested parties on the hook to establish…
Political Interview: Cathy Jamieson: Bringing big ideas
In the last of Post’s political interviews in the countdown to the General Election, Cathy Jamieson, Labour Shadow Financial Secretary to the Treasury, lays out her party’s aims in government.
Closing Gibraltarian underwriter warns of SII pressures
The chairman of Gibraltarian underwriter Service Insurance Company said UK motor market pressures and the looming Solvency II deadline in 2016 led to the firm deciding it was not "economically sensible" to continue operating.
PRA publishes ‘milestone' paper on managers' oversight
The Prudential Regulation Authority has published the scope of its senior managers regime for Solvency II insurers with guidelines on how the regime will apply to non-executive directors to be published later in the year.
Insurers still have much to do ahead of Solvency II deadline, warn EY and Silverfinch
A survey of asset managers has found that only around 10% of their insurance assets have been in contact to discuss Solvency II issues.
PRA publishes final rules for Solvency II implementation
The Prudential Regulation Authority has published its final rules for implementing the Solvency II directive alongside a consultation paper on the application process for the volatility adjustment.
Insurance Europe calls for EIPOA stakeholder workshops
Insurance Europe has called for a limited on the number of guidelines and simplification for Solvency II implementation.