Analysis

39561

View from the Top: Turning ORSA on its head

In his quarterly column for InsuranceERM, Tom Wilson, chief risk officer for Allianz, shares his insights into managing risk and capital. In this instalment, Tom describes how insurers can get value out of the ORSA by focusing less on regulatory reporting and more on risk and capital management as a continuous process

39401

The 'winners' and losers from the Ogden rate change

Insurers with lower retention rates increased their motor market share in Q1 as others were forced to raise prices faster. They are, however, likely to be hit harder during their reinsurance renewals, and the profits lost across the entire sector could reach £3.5bn. Callum Tanner reports

39271

SFCRs - the one-tonne paper chase by European insurers

Analysis of public Solvency II reports shows literally a tonne of information is now available to stakeholders. But who will use it? Do the reports satisfy stakeholders? And how might the reports evolve? David Walker reports

39001

Comment: Weak UK government bad news for insurers in need of key reforms

Whether it's the business of reforming elements of Solvency II, guaranteeing market access for UK firms selling into Europe or reforming the Ogden discount rate, a weak government will mean gridlock and uncertainty, says Callum Tanner

38881

Political instability and what it means for risk management

The prevailing political environment has a significant impact on how re/insurers operate, so risk managers should respond to this current period of instability and uncertainty with new approaches, says Frieder Knüpling

38741

Allianz's Wilcox: CRO role still in "teenager" phase

As Stephen Wilcox looks set to leave Allianz UK by the end of the summer, he reflects on how his role as CRO has developed over the last seven years alongside more recent regulatory and political frustrations. He spoke to Callum Tanner at Allianz's office in London.

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Turning the GDPR threat into an opportunity

Insurers have one year to prepare for the EU's General Data Protection Regulation and implementation will not be straightforward. But there is much to be gained from taking a customer-centric approach, as REaD Group's Andrew Bridges explains

38541

IAIS's Kawai: "a financial crisis is triggered and spread because of entities"

The International Association of Insurance Supervisors is developing a cross-sectoral, activities-based approach to systemic risk identification. Although some insurers are hoping this will eventually replace entities-based designation, Yoshihiro Kawai stresses that this will not be the case. He spoke to Callum Tanner at the NAIC conference in Washington, DC on 15 May

38431

IFRS 17 compliance: a task comparable with Solvency II?

IFRS 17 has been described as a "landmark shift" in insurer accounting and some are saying that implementation could require more work than was needed for Solvency II. InsuranceERM gets the lowdown from the industry on what it means for the sector

38351

How are P&C actuarial functions coping with Solvency II?

With more than a year's experience of Solvency II, actuaries in property and casualty firms are implementing some of the requirements well – and others not so well – as Sanjiv Chandaria explains to Christopher Cundy

37811

Insights into an evolving ERM process

Janice Englesbe explains how Gen Re has changed its approach to enterprise risk management following the completion of its first ORSA in 2015

37671

A death knell for the Sifi designation?

The US inquiry into the designation of non-bank systemically important financial institutions looks likely to see insurers AIG and Prudential Financial shed the label, while ensuring the court appeal against MetLife becomes obsolete. What will replace Obama's post-crisis regulation and will it affect the international process? Callum Tanner reports

37411

Solvency II equivalence on the Isle of Man - a bear necessity?

Allan Christian explains how updates to the Isle of Man's insurance regulatory regime have become intertwined with efforts to gain Solvency II equivalency

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Sourcing data for cyber risk management

Insurers crave data to better write cyber risk policies and understand their risk accumulation, but getting hold of it is a tough assignment. Cintia Cheong reports

37201

European insurers hold out hope on UK market access

With article 50 triggered, insurers in the UK and EEA wait with bated breath for news on what will replace passporting. Although the EU looks set to take a tough line on access to the single market for the UK, pressure is mounting on the UK government to avoid retaliation. Callum Tanner reports

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The ongoing ordeal of Ogden

The change to UK's damages discount rate came as a huge surprise to many insurers. But this is far from being a one-off shock. Christopher Cundy reports

37051

European insurers prepare for UFR change pain

Cutting the ultimate forward rate to about 3.65% over the next five years will drag down European insurers' solvency ratios as the pain of low rates feeds into long-term discounting. The big question now is whether MEPs, the Commission and German industry will work together to block Eiopa's methodology. Callum Tanner reports

36911

View from the Top: The CRO and risk team of the future

The skills of an effective risk function have evolved over the past decades due to regulatory change and financial innovation. Looking forward, the role of risk once again sits on the brink of uncertain development driven not only by regulatory change but also the threat of digital disruption, as Tom Wilson explains

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36671

Telling the solvency story

The Solvency II solvency and financial condition report (SFCR) is causing consternation among insurers. How do participants balance the requirements of disclosure with confidentiality, or interpret this most loose fitting of regulatory diktats? With the first set of reports already published, the answer seems to be, not very happily. Sarfraz Thind reports

36561

Turning liability into opportunity

There is growing evidence that exposure to phthalates has serious health impacts. Excluding phthalates from insurance contracts might be the natural response, but modelling the exposure could allow firms to see the risk as a business opportunity rather than a threat, as Praedicat chief executive Robert Reville tells Callum Tanner