Regulators debate governance at Life & Pension Risk’s Nordic conference in Copenhagen

The financial crisis focused firms’ attention on the need for good governance – and this is set to be enshrined in the regulatory framework when Solvency II hits the statute books in 2013. Last month at Life & Pension Risk’s annual Nordic conference in Copenhagen, a group of senior industry figures and regulators debated the issue. Laurie Carver reports

Life & Pension Risk: What governance lessons can be learned from the financial crisis?

Christian Kjaer, ATP: It is clear that in the future the responsibility for capital management and measurement lies within the board. One of the very important aspects of this is that this focus on capital management needs to be in the entire organisation, but emanating from the board downwards. And by saying capital management you are also saying risk management, because firms need to hold capital against all