27 November 2009
Published in: Corporate strategy, Capital - models, Risk governance, Insurance risk, Investment risk, ALM, Market risks, Operational risk, Longevity - mortality, Cat risk - ILS, Software, Regulation - supervision
IERM’s top stories chart 2009’s risk management challenges
This site started life as Insurance Risk & Capital on 28 November 2008, in time to witness critical developments in insurers' perceptions of risk following the onset of the financial crisis and in time to cover the major strides made in that time (some forwards, some backwards) by the Solvency II directive.
To mark the anniversary, we've chosen 25 of our most representative stories, though we've excluded the most recent ones, and also the valuable expert coverage of CEIOPS' consultation papers. This latter was prolific and mainly contributed by Watson Wyatt and KPMG, but it would be invidious to single out any one piece. Put "CEIOPS," "Watson Wyatt" or "KPMG" into our search box to see the full extent of the material on the many consultation papers and other CEIOPS' issues.
If you're a new reader or just want to be reminded of the range of our earlier features that are still relevant, do have a look at the selection below. One snippet worth remembering is Warren Buffet's down-to-earth "the buck-stops-here" comment in his annual report about why Berkshire Hathaway held 251 derivatives contracts. "I both initiated these positions and monitor them, a set of responsibilities consistent with my belief that the CEO of any large financial organization must be the Chief Risk Officer as well," he said.
Analysis:
Why Solvency II is more sophisticated than Basel II
How insurers can use risk appetite to set risk limits
Prepare your models for the six tests now
How big a test will the ORSA be?
Financial and risk modelling software moves into "qualitative areas"
Get your priorities right in preparing for Solvency II
Joachim Oechslin puts his faith in models at Munich Re
We need the whole story on partial models
How Scor manages extreme risks
The modellers, not the models, failed
How replicating portfolios can reduce your model run time
Allure of longevity swaps grows for pension plans
With-profits insurers need modern investment strategies
Mapping out the route to internal model approval
How level will the Solvency II playing field be?
Swiss Re focuses on realigning its investments
Opinion:
Why we favour a statistical approach to hurricane forecasting
Why we need to redefine the "e" in ERM
To VaR or not to VaR?
We need clearer and more sophisticated thinking on op risk
CEIOPS is changing Solvency II "without any justification or evidence"
News:
Why Solvency II is more sophisticated than Basel II
The CEO must be the CRO, says Buffet
"Risk appetite, not risk management, was at root of crisis"
FSA expects 100 firms to apply for internal model