Solvency II
Review of the year - General insurance: Regulatory dramas
2011, a year dominated by regulatory and legislative change, could yet prove to be a landmark 12 months for the insurance industry.
Solvency II tops list of risk managers concerns
Solvency II requirements are seen as the greatest challenge to the European insurance market by risk managers, but credit downgrades remain a significant concern, according to a survey by specialty insurer Torus.
Guest blog: Market cycles, cost of reinsurance and the Middle East
In the course of the year, concerns over the rising cost of regulation with impending Solvency II have been heard, even by Ferma’s Peter Von Dekker, as a cost that is ultimately likely to be absorbed by consumers.
Final Solvency II deadline for Jan 2014
Insurers will be expected to fully comply with Solvency II by 1 January 2014, according to financial secretary to the Treasury, Mark Hoban MP.
ABI wants Solvency II to aid investment
The ABI has warned that the Eurozone crisis would not hold up Solvency II, but the new rules for how insurers hold capital should recognise the need for investment in long term projects needed for economic growth.
Talanx licenses Towers Watson software for global risk management
Talanx has purchased Towers Watson's financial modelling and reserving software to harmonise its regulatory capital reporting.
Equalisation reserve changes to impact insurers
Legislative changes to claims equalisation reserves will disadvantage insurers, a PwC analyst has warned.
Claims club: Claims teams must gear up to provide Solvency II documentation and evidence
Claims handlers are not exempt from the Solvency II requirements, according to Lloyd’s boss Luke Savage. The finance, risk management and operations director warned attendees that claims teams would have to ensure their documentation, technical provision…
Arag chooses Barrie & Hibbert for Solvency II internal model
German insurer, Arag, has selected financial services firm Barrie & Hibbert for its internal model for market risk and for quantifying strategic asset allocation opportunities in a Solvency II environment.
Arag hands Barrie & Hibbert SII role
Legal expenses insurer Arag has selected financial market modelling firm Barrie & Hibbert to assist in its preparations for Solvency II.
Antares’ ceded reinsurance appoints head
Specialist Lloyd’s insurer Antares has named Richard Anson as head of ceded reinsurance.
Post Blog: Fail to prepare and prepare to fail
The revised deadline for Solvency II compliance for European Insurers is 1 January 2014. Despite the delay in start date, the reality is insurers cannot afford to be complacent with their plans.
Claims - Board representation: Staking a claim
Claims representation at insurer board level may remain a relative rarity — but is it a business critical necessity or a luxury?
Guest blog: GCC markets and the 2012 Crystal Ball
While The Cooperation Council for the Arab States of the Gulf markets, or GCC as they are known, return to a semblance of what was pre-financial crisis normality as they knew it, the race to write more for less will certainly continue.
Bearing Point launches Solvency II reporting tool
Management and technology consultancy Bearing Point has launched Abacus – a pan-European reporting solution for Solvency II which they claim will resolve the reporting challenges facing insurers in the UK and Ireland.
Insurers cannot underestimate work needed to comply with Solvency II
PwC has commented on today's launch by EIOPA of a public consultation on its revised proposals for reporting under Solvency II.
EIOPA launches public consultation on Solvency II
In order to facilitate the preparatory work of insurance and reinsurance undertakings for Solvency II, the European Insurance and Occupational Pensions Authority has opened a public consultation with regards to supervisory reporting & public disclosure…
FSA to work with insurers to avoid costs from Solvency II delay
Commenting on the announcement yesterday that the Financial Services Authority plans to work with insurers to help them avoid costs from a 12 month delay to the introduction of Solvency II, Steven McEwan, of counsel in Hogan Lovells Financial…
ABI to collate members' views on Solvency II consultation
The Association of British Insurers has begun the task of compiling the views of its members following the European Insurance and Occupational Pensions Authority’s decision to launch a Solvency II consultation.
Q3 market movements take toll on insurers' capital adequacy, S&P says
Recent financial developments, combined with marking-to-market of insurers' investments, has depleted European insurers' balance sheets, according to a report by Standard and Poor's.
Strong US ties help rate Axa's entities as 'AA-'
Axa has had all its entities' insurer financial strength ratings affirmed at 'AA-' by Fitch Ratings.
US expected to achieve Solvency II equivalence
The US solvency regime for insurers is expected to achieve equivalence with the European Union's Solvency II requirements according to Fitch Ratings.
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.
Aviva to axe 950 jobs as Dublin-based operation set to be dismantled
The decision to dismantle Aviva’s Dublin-based European holding company with the loss of up to 950 jobs has been blamed on “economic and regulatory burdens”.