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.
Bernardino: systemic reinsurers should get no special treatment
Eiopa chairman speaks to Risk.net on G-Siis, derivatives use and regulation of securities financing
Insurers should prep for questions on pro-cyclicality
Regulatory agenda shifting to systemic risk of herding
ESRB's buffer plan would worsen systemic risk – insurers
Industry and regulators at loggerheads over pro-cyclicality
Testing interest rate models for Solvency II applications
Alexey Botvinnik and Vladimir Ostrovski propose a validation method for interest rate models
Solvency II a poor reflection of 'actual' capital – Moody's
Rating agency joins Fitch and S&P in questioning ‘uneconomic' elements of directive
Hedge, reinsure or restructure: insurers mull risk-margin fixes
Advisers are pitching ideas to help companies deal with rate-sensitive risk margin
Changes to fundamental spread help UK insurers, not others
Recalibration of part of Solvency II makes little difference to euro volatility adjustment
Q&A: Bafin's Hufeld concerned ECB doesn't understand German banks
Sparkassen and co-operative sectors 'look like an outlier that doesn't fit with Europe'
Custody Risk European Awards 2015: Insurance Custodian of the Year
Sponsored feature: BNP Paribas Securities Service
Plenty of life in the longevity risk market
Winners' Circle: Prudential Financial
Insurers must perform balancing act
Winners' Circle: RBS
G-Siis must get used to regulatory pressure on two fronts
Contradictions between systemic risk rules and solvency regulations seem unavoidable
Insurers grabbing 'structural premiums' as banks step back
Firms benefiting from 'relatively favourable' regulation
Insurers wary of capital 'uncertainty' in multi-asset funds
Firms concerned about modelling future portfolio changes
Independent asset managers lag bank, insurer-owned peers on op risk
Capital requirements incentivise banks and insurers to enhance op risk management
Asset managers advance operational risk programmes
Independent asset management firms catching up with bank- and insurance-owned peers
Best in Italy: BNP Paribas
Co-operation with financial regulator on new rules wins acclaim
Best in Germany: UBS
Solvency II optimisation strategy delivers capital savings for insurers
Convergence 'main strategic focus' for Eiopa – Bernardino
Lack of Solvency II consistency dominates discussion at authority's conference
Insurer of the year: Allianz
Solvency ratio sets benchmark despite conservative internal model assumptions
Best bank, equity risk: Societe Generale
SG wins with jumbo trades and product innovation
Best regulatory reporting software: BearingPoint
Provider of choice for many supervisors secures award with Abacus
Best risk engine: UBS Delta
Clean data and consistency put UBS Delta in lead
Best Solvency II software package; Best economic scenario generator: Moody’s Analytics
Clients say breadth of coverage a winning formula