Analysis
Figuring out profit emergence under IFRS 9 and IFRS 17
Gavin Conn and Steven Morrison examine how the choice of liability discount rate affects the expected profit emergence and earnings volatility under IFRS 9 and IFRS 17
Regulatory doubts holding back advanced modelling
US regulators are ill-equipped to oversee predictive models and may be slowing the adoption of new technologies, says a study by the Society of Actuaries. Sarfraz Thind reports
2019 Atlantic hurricane season: facing the eye of the storm
Forecasters are predicting a relatively average Atlantic hurricane season, but emerging risks could impact losses in unexpected ways. Paul Walsh and Sarfraz Thind report
Why South Korea leads the way on IFRS 17
South Korea has pioneered the adoption of the new accounting standard for insurance contracts, as well as coping with preparations for a new capital standard at the same time. Martin Sarjeant explains how
NAIC forum: technology, data science and Brexit
The NAIC's international meeting this month proved a lively affair. Beyond the regulatory dissection, participants had a lot to say on issues ranging from technology to Brexit. Sarfraz Thind reports
Setting the record straight on ICS 2.0
Paul Walsh speaks to Victoria Saporta, IAIS executive committee chair, to discuss the outlook for the global insurance capital standard (ICS)
Credit insurers shelter from the crossfire in trade wars
The health of the trade credit insurance sector is linked to a thriving global economy, so how does a trade war between the two biggest nations affect the business? David Walker reports
GDPR - 365 days later
Insurers were vocal about the challenges they faced from the EU's General Data Protection Regulation's (GDPR) implementation last May. Ahead of its one year anniversary, Paul Walsh considers the lessons learned, the ongoing challenges and what the future holds
Comment: on the Solvency II matching adjustment and credit risk capital
Craig Turnbull argues whether the matching adjustment results in EU life insurers holding a prudent amount of capital to support the long-term credit default risk in their fixed income portfolios
International capital standards: the US's chorus of disapproval
Development of the global insurance capital standard (ICS) has always been controversial. But the level of ire expressed by the US government, regulators and insurers at this week's NAIC conference was unprecedented. Sarfraz Thind reports
German life insurers relish €4.5bn-plus saving on ZZR contributions
The revised methodology for calculating Germany's special interest rate reserves is saving billions for the country's life insurers. David Walker reports
The European insurance businesses ripe for M&A
Analysis of solvency and financial condition reports by Insurance Risk Data has revealed dozens of insurers with small, loss-making lines that might be ideal targets for M&A. David Walker and Christopher Cundy explain
The CRO and pianist who hits all the right notes
Justin Skinner is chief risk officer at Vitality, the pioneering life and health insurer. He talks to Ronan McCaughey about his career, the risk management challenges associated with technology – and Queen's greatest hits
Glyphosate, opioids and talc - candidates for the next asbestos?
Claims relating to asbestos exposure caused a catastrophic level of losses for the insurance industry. What is the potential for the scenario to be repeated by other chemicals and compounds? Paul Walsh reports
Lloyd’s culture risks sabotaging its transformation plan
Lloyd’s “bold new strategy” to transform the 330-year-old insurance market by targeting efficiency and technology innovation could fall flat because of a lack of talent, the timeline for execution and the challenge of appeasing different stakeholders. Ronan McCaughey explains
Decoding IFRS 17 from an investment perspective
Efforts by the International Accounting Standards Board (IASB) to clarify the definition of investment components within an insurance contract have been welcomed by some stakeholders. However, others argue a new proposal from the board could spark confusion. Cintia Cheong explains
LDTI: a challenge even for the most well-prepared
The US long-duration targeted improvements (LDTI) accounting change is one of the most complex accounting developments ever to hit the US insurance industry. EY's Evan Bogardus and Chad Runchey tell Sarfraz Thind about the implications of the new standard and - why it is so taxing for insurers
Top technology tools for actuaries
The actuarial world may sometimes be perceived as a stolid profession, but the development and integration of new technologies means the sector is moving apace. A survey by the US Society of Actuaries highlights the key technology trends in the business. Sarfraz Thind explains
Six ingredients needed for an effective consumer risk metric
How should insurers communicate the risks and benefits of their products to potential retail customers? A recent paper from the UK Institute and Faculty of Actuaries investigated this question and came up with some surprising results. Christopher Cundy explains
Getting IFRS 17 ready for lift off
Despite the recent efforts by the IASB in proposing several changes to ease the implementation of IFRS 17, the new accounting standard for insurance contracts, some in the industry believe more needs to be done. Cintia Cheong rounds up the latest developments on IFRS 17 and the outstanding issues until its launch