Strategic risk: RSA’s chief risk officer on applying Solvency II

UK insurance group RSA has embraced Solvency II. Last month, the group was awarded insurance risk manager of the year by Life & Pension Risk’s sister title Risk. Jon Macdonald, RSA’s chief risk officer, tells Laurie Carver how the insurer is using the new regime to guide the strategic direction of the business

The deadline for Solvency II implementation has long been a moving target – and European legislators last year agreed to give insurers an extra year to comply, with the regulation now due to come into full effect from 2014. Even then, some participants say implementation will be a struggle, with much of the detail still to be ironed out. The European Parliament announced in December that it would delay a final vote on the Omnibus II rules – a crucial step before more detailed guidance can be