Regulation Solvency II, Risk-based capital, Accounting/Tax

News

IFRS 17 risk adjustment and confidence level challenges remain

Andries Beukes says interpretation of the accounting standard varies by auditor

Insurers in Switzerland face mandatory climate reporting

Mandatory climate reporting for insurers will begin in 2025

Medibank execs should face consequences of data breach, says Apra

Australian regulator warns financial firms to focus on operational resilience

UK home and motor insurers set for large losses

EY expects the markets to make their largest annual loss in over a decade this year

Eiopa consults on cyber risk component of insurance stress testing

Stakeholders should share their feedback by 28 February 2023

Operational risk management should include people resilience

One of the hot topics at the Insurance Risk & Capital Emea conference on 1 December

UK Solvency II reform sparks worries about extra regulatory requirements

WTW says concerns are about "pushing more power to the PRA to scrutinise"

California targets climate risk with sustainable insurance roadmap

The strategy is designed to prioritise climate-related financial disclosures and scenario analysis

Governance is top ESG risk for insurers, says AM Best

Climate and regulation are also areas of ESG concern, according to rating agency

Eiopa moves to clarify IRRD and BRRD comparisons

Key differences between the two are in recovery and resolution funding

PRA's Solvency II reporting consultation lacks ambition, says ABI

The association warned the UK regulator had missed an opportunity

Lloyd's CFO would welcome cyber insurance regulatory intervention

Aon and Beazley call for better definition of cyber events

AM Best remains negative on German life insurance

Changes to Solvency II, growth challenges and market volatility provide headwinds

ESG will increasingly influence insurers' risk management strategies

Lack of standardisation, regulatory pressure and greater physical risks all pose challenges, says Fitch

European insurers to consider ISSB decision on climate scenario analysis

International Sustainability Standards Board demands scenario analysis in new disclosure standard

Analysis

Gilts crash: a boon out of a crisis for insurers

Another day, another UK financial market crash. But while it has gone wrong for British politics and pension funds, the current crisis may actually benefit insurers in the long run. Ronan McCaughey and Sarfraz Thind report

US Senators grill regulators over private equity ownership and climate

This month's US Senate Banking Committee hearing on insurance shone a light on where politicians have the biggest concerns about the sector. Sarfraz Thind reports

MEPs' Solvency II amendments put climate and calibrations back on the table

The European Parliament is set for an intense debate on its amendments to the Solvency II directive, which present a mixed picture in terms of their potential impact on insurers. Paul Walsh reports

Fighting fires in the US

Wildfires are raging once again and insurers are under pressure to maintain coverage in high-risk regions. But the industry can do more to help itself and society as David Sampson, president of the American Property Casualty Insurance Association, explains to Sarfraz Thind

Solvency II in Germany: four insurers below 100% ratio without transitional measures

New analysis from Insurance Risk Data picks up where Eiopa left off, evaluating the use of the long-term guarantees measures in Germany, the EEA country where they are most popular. David Walker reports

The UK's Solvency II reform proposals: reactions summarised

Actuaries, US insurers, environmental campaigners have joined the UK industry in responding to Solvency II reform proposals. Christopher Cundy and David Walker report