Solvency II
Accounting Standards: Slow but steady
Eight years since the 'interim' International Financial Reporting Standards were introduced, progress is still slow on final implementation.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Insurers change approach to calculating capital ahead of Solvency II
As European insurers continue their Solvency II preparations many are changing their approach to calculating capital adequacy requirements, according to Deloitte.
EU insurers to bounce back from possible Greek euro exit
The European insurance sector should be able to absorb shocks arising from a hypothetical Greek exit from the euro, provided the exit was orderly.
Insurer approach to Solvency II is more 'sophisticated', report finds
Insurers have upped the ante in their preparation for Solvency II with 60% increasing the sophistication of their approach.
Barnett Waddingham hires Solvency II boss
Actuary Barnett Waddingham has appointed Cameron Heath to lead the expansion of the firm's Solvency II offering within its insurance consulting practice.
FSA kept budget spending down, annual report reveals
The Financial Services Authority deliberately underspent on its annual budget as it was “very conscious of the need to control costs, particularly given the difficult environment that firms are operating in”.
European insurers remain well capitalised, says Eiopa
The majority of European insurers are well capitalised in terms of current Solvency regulations, although Solvency capital ratios are starting to decrease slightly, according to the European Insurance and Occupational Pensions Authority.
German financial watchdog on the hunt for new insurance head
Germany's financial regulator Bafin is seeking a new head of insurance supervision following Gabriele Hahn's move to a new role after only 18 months in the job.
Nordic insurers will need bigger investment adjustments under Solvency II
Nordic insurers will need to make bigger adjustments to investment portfolios because of the likely requirements of Solvency II, according to Fitch.
Nordic insurers urged to make bigger adjustments to investment portfolios
Nordic insurers need to make bigger adjustments to their investment portfolios because of the likely requirements of Solvency II.
Managing general agents: A surge in popularity
Managing general agents are certainly on trend and increasing their interaction with insurers but, with some companies still suspicious of their value, will their popularity last?
FSA to end client exposure and abolish unclear risk transfer agreements
The Financial Services Authority is to publish a consultation on changes to its client money rules around risk transfer by the end of this month, in a bid to abolish ambiguous insurer agreements.
Barnier "hopeful" of political agreement on Solvency II
Despite "rapid progress" being made, Solvency II may not apply from 1 January 2014 if political consensus is not reached in the next few weeks, according to Michel Barnier.
Strong growth prospects for Nordic life market
Growth prospects for the Nordic life insurance markets remain strong, but insurers will have to assess the viability of selling contracts with investment guarantees due to high capital charges under Solvency II, according to Fitch.
FSA hits back at Solvency II gold-plating concerns
The Financial Services Authority has hit back at criticism that it is gold-plating regulation and adopting an "audit approach" to Solvency II, claiming it is ensuring that all the directive requirements are met.
ISA 2012: Chinese cool on Western insurance brands and MNC employment
The outlook for the Chinese insurance sector continues to be attractive, but international players are challenged on many fronts, such as limited geographical reach and restrictions over the way they conduct businesses.
Top 10 news stories
The top 10 stories from www.insuranceinsight.com last week.
A third of general insurers to re-price products in run-up to Solvency II
Increasing numbers of insurers plan to re-price and reorganise their product mix in response to the introduction of Solvency II regulations, according to a Deloitte Survey.
Solvency II: Equivalence versus non-equivalence
Solvency II has had more than its fair share of headlines recently but, as Fiona Le Poidevin explains, countries outside European Union jurisdiction or 'third countries' have to think carefully when considering whether or not to seek equivalence to the…
Solvency II setbacks taking toll on insurer budgets
Rising numbers of insurers believe the industry will miss the January 2012 compliance deadline for Solvency II, according to a survey conducted by the Economist Intelligence Unit on behalf of Deloitte.
Deloitte reports growing number of insurers fear Solvency II delays
The latest edition of the annual Deloitte Solvency II survey shows that a rising number of insurers believe the industry will miss the January 2014 compliance deadline.
Insurer boards urged to take risk control more seriously
Insurance company boards have failed to adopt anything beyond a "general tick-box attitude" to risk culture, a consultancy firm has warned.
Solvency II poll result
Barnett Waddingham has criticised insurance firms over Solvency II readiness.