Analysis
Why the insurance industry needs a new risk governance model
The traditional 'three lines of defence' model for risk governance needs improvement to deal with a fast-changing and technologically advanced economy, argues Henry Essert in part one of this two-part analysis
The thinking behind Milliman's Mind
Milliman launched its Mind solution for actuarial modelling at the start of this year. Christopher Cundy talks to the lead developer and one of the first users of the innovative solution that bridges the gap to the actuary's favourite tool, Excel
Eiopa's plans for regulatory convergence
Patrick Hoedjes, head of the oversight and supervisory convergence department at Eiopa, talks to Aggelos Andreou about the difficulties of achieving regulatory harmonisation across Europe in an ever-changing landscape and how the authority intends to tackle the big obstacles like Brexit
Realising the potential of operational risk management
Madeline Betts, Justin Elks and Daniel Bruce set out practical and proportionate ways to improve operational risk processes that add tangible value to a business
Emerging risks: cyber still top, environment rising
Max Rudolph discusses the findings of the North American actuarial societies' 11th annual survey of emerging risks with Christopher Cundy
Lloyd's syndicates despair after reinsurance catastrophe rate rises vanish
Veterans express "horror" at the lack of movement in reinsurance rates after 2017's natural catastrophes, as David Walker reports
The beginning of the end for coal investment and underwriting
Insurers have made efforts to disengage themselves from the coal industry on both sides of the balance sheet, but climate activists say they could do more. Cintia Cheong wraps up the latest developments
Model risk management - why should we care?
There are clear benefits to insurers from taking a holistic approach to managing model risk, says Phil Whittingham
The challenge of constructing IFRS 17 discount rates
Nick Jessop discusses the permitted approaches for constructing insurance contract discount rates under the IFRS 17.
Lloyd's syndicates detail extent of natcat losses
Annual accounts from Lloyd's syndicates show a leap in combined ratios and losses following 2017's natural catastrophes. David Walker analyses the figures
Solving Solvency II's proportionality riddle
Smaller insurers have long complained about the burden of complying with Solvency II, but balancing proportionality with proper supervision continues to be debated. Aggelos Andreou reports
Planning your IMAP programme
In part two of this feature, Ashish Kwatra and Jennifer (Kang) Khaleghy highlight key areas to consider when planning for internal model approval
The future of terrorism risk insurance pools
Paul Walsh investigates how the terrorism pools are maintaining their relevance in the face of cyber threats and the changing nature of terrorist attacks
How to get your Solvency II internal model approved
Ashish Kwatra and Jennifer (Kang) Khaleghy discuss the lessons learnt in applying for regulatory capital models and explain how to manage an effective model approval programme
Systemic risk regulation 2.0
International regulators are revisiting the question of how to tackle systemic risk in the insurance sector, proposing an approach based around activities. Aggelos Andreou reports
Myth-busting the demise of commercial property insurance
The value of companies today is based more in intangible assets than ever before. So should commercial property insurers be worried about the future of their business? Tim Freestone delves into the data to reveal a surprising answer
Axa's Buberl defends takeover of XL
Axa's share price dropped almost 10% following the announcement of its plan to acquire XL Group. Aggelos Andreou reports on the rationale behind the deal
Insurers make 'short work' of SFCR internal model disclosures
David Walker compares how firms describe internal models in their solvency and financial condition reports and considers how the practice may evolve
Risk and actuarial recruitment: boom time again
Wages in actuarial and risk management roles are going up, in large part because of the opportunities created by IFRS 17, the new insurance contracts accounting standard. Cintia Cheong reports
IDD delay greeted with mixed reactions
Insurers have welcomed the European Commission's proposal to delay implementation of the Insurance Distribution Directive, but not all national regulators are towing the line. Aggelos Andreou reports