Solvency II ORSA, QIS5, IMAP, Omnibus II, EIOPA
News
Eiopa publishes final advice on IORP directive
QIS on pension provision likely in second quarter
Eiopa issues action plan for colleges of supervisors
Covers college activities for a group’s internal model application
Bernardino: "Omnibus II delay harms EU credibility"
Plans for supervisory colleges and for IORP imminent says Eiopa chairman
Oracle announces applications for risk and Solvency II compliance
Includes capabilities for addressing the ORSA
Axa unhappy with workings of colleges of supervisors
Approaches on internal models diverge
Australia, Chile and Israel interested in SII equivalence
FSA responds to SII delay rumours
Barnier denies Solvency II delay
Final SII standards and guidelines planned for September
Mutual fund exposure tool for Solvency II launched
SII proportionality critical for captives
Lloyd's road to Solvency II sees more green lights
"No suggestion that SII dates beyond 2014 will change"
One in three major UK life companies face extra reporting
FIO is "not a regulatory authority"
Analysis
A modular approach to the ORSA
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An insurer's ORSA can be constructed from three modules, the risk profile, the prospective solvency and the ORSA governance and firm's ERM. The exercise may be costly but firms will benefit both internally and externally, argues a Willis Re report, excerpted here
NAIC: "If we respect the differences, we can make this work"
On a visit to London, the NAIC top brass make it clear where they stand on equivalence. "We are not adopting Solvency II and Europe is not adopting the US system and that is okay," says Kevin McCarty, NAIC president. The key issue is making it easy for transatlantic firms to do business, stresses his colleague, CEO Terri Vaughan, in the interview with InsuranceERM
Hybrid debt market crimped by Solvency II uncertainties
Insurers sold four times as much hybrid debt last year as in 2010, and this year has already seen three sizeable deals. But issues of hybrid debt remain constrained by uncertainty over the Solvency II tier 1 capital definitions, as Sarfraz Thind explains
Solvency II extra year is vital for Spain
Many in Spain's insurance industry are struggling to keep up the momentum needed to be ready for the onerous demands of Solvency II. So both regulators and insurers in Spain seem to be grateful to have at least an extra year to prepare for implementation of the directive, as Lorna Davies reports
French insurers shy away from internal models
Only a handful of firms will be ready to implement an internal model and the whole French market is struggling to prepare for Solvency II, with mutuals particularly badly hit by the proposed new regulations. Sarfraz Thind reports
Highlights
- Aegon and Deutsche Bank in €12bn longevity swap
- Deloitte hires Mike Sobers from Aviva
- A modular approach to the ORSA
- Actuaries embrace faster, more efficient A/LM models
- What Tohoku tells us about Japan earthquake risk
- "Cat modelling for the masses" planned by industry group
- Torus appoints new CFO
- IORP could make hundreds of UK companies insolvent
- NAIC: "If we respect the differences, we can make this work"
- Liberty returns to cat bond market
- One step closer to the new world of regulatory reporting
- Four-fifths of insurers in Bermuda use more than one cat model
- Insurers embrace curve-fitting for SCR calculations
- Sweden's insurers struggle to get ready for Solvency II
- AIR publishes simple cat model tests
- Solvency II and IORP directives need to be aligned
- Eiopa paper shows drawbacks of "one-size-fits-all" approach
- Underwriting discipline "central challenge" for 2012
- Moody's buys Barrie & Hibbert
- Applying complexity science to risk appetite and emerging risk
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