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.
Solvency II to cause regulatory arbitrage in Asia
A two-tier regulatory market could develop across Asian insurance sectors as Solvency II capital requirements for European insurers will cause them to lose out to domestic competition
Mastering the data management challenges of Solvency II
Compliance control
Technological firepower
Technological firepower
Not seeking Solvency II equivalence “business opportunity” for Guernsey
Not seeking equivalence “business opportunity” for Guernsey
Top 10 articles on Risk.net in 2010
A quick overview of the top ten articles across the whole of Risk.net in 2010 provides a roadmap of the year's main themes
Confidence in controlling risk measures
Insurers increasingly use stochastic simulation approaches for estimating risk capital, but numerical errors are rarely measured. A control variate method can improve the accuracy dramatically without increasing the number of simulations.
Central Europe - insurers look to overcome region's ALM challenges
Taking the centre ground
Equity derivatives house of the year: Société Générale
Risk awards 2011
Structured products house of the year: BNP Paribas
Risk awards 2011
Industry and regulators face off over captives’ proportionality exception
Industry and regulators face off over captives’ proportionality exception
New opportunities
New opportunities
Insurers' Solvency II programmes unrealistic, suggests PwC survey
Insurers' over-confidence about their Solvency II preparations could mean a last-minute rush to the finish line, according to a PwC survey
Aegon looks to cost of capital to price optionality in VA liabilities
A proposed new modelling framework from the Dutch insurer's US arm uses cost of capital in an analogous role to the market price of risk in traditional pricing theory to value long-dated options embedded in VA liabilities
New year could see indemnification ILS deal
A new indemnification insurance-linked securitisation is under way and could put an end to a post-crisis dry spell in life ILS early next year
Swiss Re hits out at ‘counterproductive’ regulatory calibrations
Swiss Re argues current regulatory calibration proposals will slash policyholder returns
NAPF: EU Solvency II proposals could undermine provision
Insurance regulatory capital framework is "inappropriate" for the European pension industry, say organisations
Assessment of longevity risk under Solvency II
As the implementation of Solvency II looms, the calibration of the standard formula remains a controversial issue as the industry runs the fifth quantitative impact study. But the current design overshoots the one in 200 year confidence level.
A liquid market – banks tap insurers' liquidity reserves
A liquid market
Interest rates house
Structured Products Europe Awards 2010