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.
Latest delay to key Solvency II vote 'could threaten agreement on Omnibus II'
European Parliament plenary vote on Omnibus II will take place on November 20
Hedge fund enables insurers to capitalise on bank deleveraging
Tenax Capital fund will buy bank loans and provide debt capital to corporates
Q&A: Sharon Bowles, Econ committee chair, on the Omnibus II trilogues
Catching the Omnibus II
An alternative model for extrapolation
An alternative model for extrapolation
Policy-makers urged to widen scope of matching adjustment 'for good of society'
Current proposals would transfer risk to consumers and increase price of guarantees, argues consultancy
Tullett Prebon launches private equity hedge for Solvency II
Will reduce capital charge by at least 75%, inter-dealer broker claims
Council proposal on life morbidity insurance threatens compromise on long-term guarantees
European Parliament concerned about proposal which could derail negotiations on Ommibus II, warns Econ committee chair Bowles
Standard formula ‘an inadequate risk measure’ for high-risk bonds
Eiopa urged to adjust bond SCR as study by Edhec Business School suggests Solvency II could discourage insurers from long-term bond investment
Eiopa resists calls to ease Orsa risk quantification requirements
But relaxes solvency projection rules in updated draft level 3 guidance on Own Risk and Solvency Assessment
Breakdown of Omnibus II negotiations piles pressure on Solvency II timetable
Negotiations to resume in September, but there are fears that deadlock will continue
New Solvency II reporting guidelines ease burden on smaller insurers
Insurers urged to press on with Pillar 3 programmes as guidelines provide 'stable view' of reporting requirements
FSA developing early warning system for internal models
FSA developing early warning system for internal models
Evolution of the liquidity exchange
Evolution of the liquidity exchange
Standard Solvency II asset data framework 'at least 12 months' away
Asset managers seek to standardise Solvency II asset data provision, but industry-wide solution presents challenges
A deal is needed on Omnibus II, even if it is not perfect
A deal is needed on Omnibus II, even if it is not perfect
Insurers urged to be cautious of long-term liquidity swaps
Uncertain regulatory and economic environment increases risks associated with liquidity trades, warns Fitch
Time running out for Omnibus II negotiations as latest trilogue fails to find agreement
Further trilogue scheduled as policy-makers seek compromise on package for long-term products before summer recess
The Orsa risk quantification challenge
The quantification question
Insurers’ remuneration will become more risk-sensitive, says incoming Bupa finance chief
Risk management still immature at many firms, warns Evelyn Bourke
FSA fears 'tick-box' approach to risk management as insurers focus on Solvency II capital requirements
Companies will not receive any more guidance from FSA on Orsa development
Managing Solvency II's equity capital charge
The volatility challenge
Edhec develops framework for Solvency II equity risk management
Formula for risk control framework can optimise equity risk capital costs, claims research body