Analysis
The rise and fall of valuation methodologies
The arrival of Solvency II and revised guidance on embedded value methodologies has led to changes in the financial metrics that European insurers report – and not all of them are welcome. David Walker reports
Defining company culture in five questions
An 'inappropriate culture' often takes the blame for all kinds of corporate misdemeanour, but judging the culture and correcting the failings can challenge the best of firms. Paul Harwood suggests a strategy to help management get it right
Reinsuring Africa in a soft market: One Re CRO
The young reinsurer One Re is somewhat of a specialist, focusing as it does on non-life risks facing clients in Africa. But its chief risk officer Ross McGee tells David Walker that the challenges remain the same, including reporting challenges under Solvency II, soft markets, and risk models.
ICS version 1.0 inspires little faith in IAIS timetable
Despite the IAIS heralding the launch of insurance capital standard version 1.0, insurers say it has achieved a lot less than originally promised. Is it time to scale back ambitions for version 2.0? Callum Tanner reports
Insurers under fire for underwriting coal industry
Divesting from coal companies while continuing to underwrite them is a 'blind spot' of insurers' climate policies, according to campaigners. Cintia Cheong investigates what four insurers are doing about it
Scenario planning for the insurtech revolution
Magdalena Ramada and Andrew Harley share their thoughts on how insurers should be planning to deal with the transformative technologies and tools that are making their way into the business
Gen Re's Jules Constantinou: technology can make insurance more meaningful
Jules Constantinou, regional manager for life and health at GenRe UK and Ireland, and president-elect of the Institute and Faculty of Actuaries, vows to make insurance more meaningful to society. He tells Cintia Cheong how technology can help achieve that
How to prepare for SMCR
The introduction of the Senior Managers and Certification Regime (SMCR) will mean more change for UK insurers in how they ensure that senior staff are appropriately qualified and behave responsibly. Marcus Bonnell describes the main elements of the regime and outlines a plan to deal with it
The biggest barrier to actuarial system improvement is... actuaries?
As insurers prepare for another round of system adaptation and process review with the introduction of IFRS 17, Andries Beukes shares his experience in modernising actuarial systems and discusses what role actuaries have in the success – and failure – of transformation projects
Insurers struggle with "connected risk" in high-tech, globalised market
The increasing connectedness of the global economy means risks and vulnerabilities are changing. How can insurers hope to keep up with highly dynamic supply chains in a more interdependent world? Christopher Cundy reports
Solvency II's legacy for risk teams is dull, repetitive work
...so chief risk officers (CROs) need to find interesting new work – of which there is no shortage, says Stephen Coombes, interim CRO at Unum UK. He talks to David Walker about how the risk function can evolve to maintain its relevance
UK insurers' Brexit choices become a test of EU regulatory convergence
Eiopa's opinion on Brexit may have scotched the plans of London firms hoping to reinsure 100% of EU risks back to the City. But are some regulators offering a lighter-touch version of the rules than others? Callum Tanner reports
MA optimisation: the experience at LV=
The matching adjustment (MA) is a vital element of the Solvency II package to annuity underwriters, but making the most of it is challenging. In this article, James Sharpe, developer of optimisation tool OptiMA, and Ed Rayson of insurer LV=, describe how MA benefits have been improved in practice
The risk managers' view on cyber risk
Operationally and in underwriting, the cyber threat has vexed risk managers. At InsuranceERM's North America conference, panellists discussed the difficulties and how they are trying to overcome them
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
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
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
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
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
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.