Solvency II
Changes to Solvency II rules to free up 'meaningful amounts of capital', says Glen
The UK’s rewriting of Solvency II rules will result in the release of “meaningful amounts of capital for productive investment,” John Glen MP, the Economic Secretary to the Treasury, has said.
O'Dwyer focuses on collaboration in ABI address
Current industry challenges require collaboration if much needed support is to be delivered, ABI president and Royal London CEO Barry O’Dwyer has told insurers.
PRA flags climate change and silent cyber in Dear CEO letter to insurers
The Prudential Regulation Authority has warned insurers on the need to consider silent cyber exposures and that progress on embedding supervisory expectations on climate change has not been consistent across all firms.
European insurance industry able to meet customers promises even under extreme one in 1000 year events
A Solvency II stress test conducted by the European Insurance and Occupational Pensions Authority confirms the European insurance industry’s ability to meet promises to customers even under extreme one in 1000-year events.
Intelligence: Reforms under the microscope
In its pre-budget statement the Association of British Insurers called on the government to reform the financial services regulation inherited from the European Union and unlock nearly £1trn over 15 years that could be invested in the UK’s transition to…
Top 100 UK Insurers 2021
Covid-19 had the biggest impact on insurers in 2020. Commercial lines insurers suffered while personal lines insurers broadly benefited according to William Keen-Tomlinson, senior financial analyst in London for AM Best.
The top 30 European Insurers 2021: A turbulent time
The impact of Covid-19 saw the European non-life insurance market report a decline in gross written premium and profit after tax. Mathilde Jakobsen, director, analytics, Amsterdam, AM Best, analyses the numbers and reports on the movements in the ranking…
Q&A: Caroline Wagstaff, London Market Group
In her first interview since becoming interim CEO of the London Market Group, Caroline Wagstaff explains her route to the role, delivering for government, customers, and future talent as well as how she balances the demands of the market-wide body’s post…
View from the Top video: Driving capital optimisation
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 Eric Paire, head of capital advisory, Aon, discussed why insurers might be struggling to create a positive spread above their cost of capital.
Treasury confirms 'strong case' for Solvency II reforms to free up resource and allow UK insurers more flexibility
The government is planning to bring forward reforms to free up resource on insurers’ balance sheets and allow insurers more flexibility around investments as it rewrites the UK’s Solvency II regime.
Editor's comment: Here's to a better second half
We had high hopes for 2021. We were keen to see the back of 2020 which brought with it a global pandemic, toilet roll hoarding, national lockdowns, home schooling hell, business interruption court cases, a ban on sports, enforced staycations, and yet…
Lloyd's reinsures emergency central fund
Lloyd’s has taken out a five-year reinsurance policy against payments from its emergency central fund.
Tackling climate change top of ABI agenda, says Huw Evans
The Association of British Insurers has been working hard on an industry roadmap for tackling climate change and is aiming to publish its findings on 7 July, director general Huw Evans told the audience of the Post LIVE annual conference.
Intelligence: What will the reviews of Solvency II mean for the UK and beyond?
When the Solvency II regulation was conceived in 2001, the term Brexit didn’t even exist. Fast forward 20 years and as well as the UK’s exit from the European Union the general insurance market is facing a pandemic no one foresaw and persistently low…
Intelligence: What is happening to European insurance regulation?
Nearly six months after the UK left the European Union without any deal in place for its insurance and financial services sectors Post looks at how this story is playing out in terms of regulation and what the next six months might bring.
Huw Evans to step down as ABI director general
Association of British Insurers director general Huw Evans will step down from the trade association at the end of this year to join KPMG.
Biba 2021: Key takeaways from John Glen's appearance
John Glen MP, Economic Secretary to the Treasury, tackled insurance premium tax, broker Financial Services Compensation Scheme levies, cladding, Brexit and more in his keynote address to the British Insurance Brokers’ Association’s 2021 conference…
Interview: Sean McGovern, Axa XL
Ahead of the British Insurance Brokers’ Association’s online conference next month, Axa XL CEO for the UK and Lloyd’s market Sean McGovern, told Post about his plans for growing the business with brokers, the challenges of becoming boss during the…
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…