Solvency II
WHAT IS THIS? Europe’s Solvency II directive came into effect in 2016, putting risk at the heart of a harmonised prudential framework for insurance firms. Similar in outline to the banking industry’s Basel standards, Pillar 1 sets out quantitative requirements; Pillar 2 tackles risk management and governance; Pillar 3 addresses transparency, reporting and public disclosure.
Standard formula insurers face higher operational risk capital charge
Change to definition of unit-linked expenses would increase firms' SCR
Internal models versus standard formula: South Africa's experience
Why insurers are choosing standard formula over internal model
ABI urges joint application process for long-term guarantee measures
Single process would reduce costs and time involved in applying for adjustments
UK proposes 'onerous' application process for volatility adjustment
Long-term guarantees measure likely to be subject to regulatory approval
PRA highlights restrictions on group own funds
Capital instruments from third-country insurers must fit Solvency II
Webinar: Solvency II, cloud computing and model governance
The computational requirements of Solvency II are driving the need for more computing power and data storage accessible on a scalable basis, encouraging insurance companies to consider use of the cloud and the benefits that doing so can bring. Firms are…
Time for regulators to pause for breath
Insurers would value a considered and coordinated approach
Firms review data governance ahead of Solvency II
Insurers are implementing practical and cultural changes
Unanswered questions remain on model change policies
Status of reactive parameters left open by Eiopa
Insurers prepare for diversification benefit under Solvency II
Firms consider risk sharing arrangements and changes to product mix
Insurers ask for clarity on global capital standards
National supervisors and policy-makers join in voicing concerns
Cloud computing and Solvency II
Content provided by IBM
Solvency II guidelines confirm charge for employee pensions
Assets backing pension liabilities will be included in SCR
Bernardino calls for balance on long-term investments
Supervisors must be careful to avoid market distortions – Eiopa chairman
PRA ramps up monitoring of valuation risk
Regulator reasserts governance and control requirements ahead of Solvency II
Firms urged to use Orsa to generate business value
Assessment should be integrated in management planning
Insurance Risk Nordics: European supervisory culture needs to evolve
Authorities must adapt to challenge of Solvency II along with insurers
Sharing the burden
Firms must take care when pushing consumers towards capital-light products
Insurers mull ways around rules on contract boundaries
Policy amendments a possible method to recognise future profits
Solvency II: firms prepare for Pillar III scrutiny
Insurers prepare for greater disclosure under new reporting rules
Tail-risk hedging – Improving the return on capital
Sponsored feature: Pimco
UK general insurers grapple with actuarial demands
Smaller firms struggling to meet requirements under Solvency II
Conduct risk and PBR questions for Allstate CRO
CRO challenges at Allstate
Rival vendors unveil open cat modelling platforms
New product suites offer increased transparency and customisation