Regulation/supervision

News/comment

“Industry needs to find QIS5 consensus”

29 July 2010

Barrie & Hibbert survey shows many different views

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NAIC seeks CMBS modeller to assess insurers’ risk

29 July 2010

Will parallel PIMCO’s role in RMBS

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Bermuda highlights Solvency II equivalence steps

28 July 2010

Regulatory update spells out enhancements to insurance framework

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Hiscox CEO says $30bn storm needed to boost prices

26 July 2010

Hiscox CEO says $30bn storm needed to boost pricesAlso warns insurers will be “second-class citizens” under Bank of England

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European actuaries praise QIS5

23 July 2010

European actuaries praise QIS5Seamus Creedon says it recognizes insurers’ business model

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Lloyd’s welcomes Federal Office of Insurance

19 July 2010

Lloyd’s welcomes Federal Office of InsuranceHopes new body will help Solvency II equivalence

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Bermuda boosted by CEIOPS equivalence paper

15 July 2010

Bermuda boosted by CEIOPS equivalence paperQuestion marks remain over US status

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CEIOPS lists key countries for Solvency II equivalence

14 July 2010

Consultation paper 81 published

Analysis

QIS5: "Most of the key issues remain"

13 July 2010

This is in spite of a further slight softening of requirements for the industry. Towers Watson summarizes the changes that the final technical specification for QIS5 has made to the draft specification.

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How Solvency II will change insurers’ ALM and investment strategies

12 July 2010

How Solvency II will change insurers’ ALM and investment strategiesThe QIS5 discounting rules should encourage greater derivatives usage while the proposed capital charges for credit will encourage a focus on shorter-duration higher quality bonds, argues Peter McGloughlin.

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Is your board fit for Solvency II?

02 June 2010

Is your board fit for Solvency II?Insurance company board members may think they understand the risks within their business. But Solvency II requires a huge shift for directors in demonstrating this to the satisfaction of regulators, says Rory O’Brien.

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Treat systemic risk as an emerging risk

26 May 2010

Treat systemic risk as an emerging riskFinancial crises and the associated systemic risks can be treated as any other emerging risks, believes Dave Ingram, but the crucial risk that has to be detected is the one that could create a massive loss among highly interconnected firms.

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"UK Life" solvency ratio falls under QIS5

17 May 2010

Milliman's scenario-testing using a notional life insurer reveals a likely decline in the standard formula solvency ratio, worsened by the fall-out from the financial crisis. Scott Mitchell and Fred Vosvenieks explain

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"QIS5 is only a stepping stone"

12 May 2010

Insurers need to continue lobbying and maintain vigilance in order to ensure that the concessions made towards the industry by the European Commission on 15 April are sustained. The proposals could change yet again and cause further upward pressure on capital requirements, warns one of the respondents to our questions on the QIS5 draft.

Opinion

The use test: a simple suggestion

26 July 2010

The use test: a simple suggestionMany are concerned about how the Solvency II’s “use test” for internal models will be conducted. David Ingram has an elegant solution

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Operational risk management is a value-adding discipline

15 July 2010

Operational risk management is a value-adding disciplineThe process is as much cultural as technical, says Adam Seager. People need to be empowered to identify and record operational loss data in a secure blame-free environment.

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Lloyd’s blazes the Solvency II trail

07 July 2010

Lloyd’s blazes the Solvency II trailFinance director and head of risk management Luke Savage sees Lloyd’s as being able to set the direction for the UK non-life industry. But driving a centralized approach to Solvency II for over 50 entities poses unique problems, as he describes here.