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Searching for the right proxy approaches to life
29 January 2013Care has to be taken in using replicating portfolio techniques, least-squares Monte Carlo approaches and curve fitting for estimating the risk capital of a life insurer, as Tigran Kalberer and Zeljko Strkalj explain
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Learning from Japan's 'lost decades'
24 January 2013With much of Europe mired in a deepening recession, the parallels with Japan's 'lost decades' become ever more acute. Paul Fulcher and Teoman Kaplan explore whether European insurers can learn from their Japanese peers in how to deal with a prolonged state of stagnant economic growth and low interest rates
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Manulife's Rahim Hirji: shifting from hedging to growth
23 January 2013Risk management is no longer about policing an insurance company, says Rahim Hirji, chief risk officer at Canada's Manulife Financial. He talks to Lorna Davies about changing regulations, market concerns and the development of the CRO
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Capital add-ons are here to stay, says IAIS's Kawai
15 January 2013Yoshihiro Kawai heads the International Association of Insurance Supervisors, the body responsible for contentious plans to oversee global insurance companies. He talks to Christopher Cundy about consensus and convergence
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From the Talmud and Markowitz to a holistic picture of risk
10 January 2013Systems thinking helps risk modellers develop a more dynamic, responsive analysis of complex systems. Matt Cocke and Richard See-Toh track developments from 4 BC to today's ERM approach
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2013: the ERM challenges ahead
08 January 2013Leading consultants and CROs say getting the most out of Solvency II implementation will be a big challenge for 2013, but other aspects of ERM will reappear on the agenda, as will the necessity of keeping ERM at the heart of business. Here is a compilation of responses to the questions InsuranceERM asked experts just before Christmas
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Dodd-Frank stirs federal action on insurance regulation
03 January 2013As speculation mounts that the Federal Insurance Office will soon release its report on modernising insurance regulation, Gloria Gonzalez investigates how it and the other corollaries of the Dodd-Frank reforms could redraw the US regulatory regime
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Australia beats Europe on regulatory overhaul
21 December 2012Australia has succeeded where Europe has seemingly failed by implementing new solvency capital regulations for insurers in three years – with relatively few delays. The standards will be implemented on 1 January 2013 and follow a broadly similar approach to Solvency II. Lorna Davies reports
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Ace's Mark McCausland: Solvency II is no chore
19 December 2012If boards are only focused on meeting the regulatory aspects of Solvency II they are missing a key point, says Mark McCausland, chief risk officer for Ace European Group, and calling the directive a chore should be resisted. He talks to InsuranceERM about this and other challenges of the CRO role
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Predictive modelling needs man and machine to co-exist
21 August 2012Predictive models used by insurers to manage risk and capital and support pricing could become automated, commodity items. But human judgement and overall method will remain the keys to refining models in the future, according to Duncan Anderson