RBC Worldwide Solvency Modernization Initiative, Risk based capital
News
AIG loses US systemic risk status
FSOC votes 6-3 to remove Sifi tag
EU-US covered agreement is finally inked
Five-year deadline for it to become fully applicable
XL gains Bermudan approval for internal model
Raises capital ratio by 9 percentage points
Aegon makes sweeping changes to supercharge solvency ratio
Injects €1bn into Dutch subsidiary and negotiates with regulator over LAC DT and US conversion factor
CRO Forum lobbies on internal model use for ICS 2.0
“Hidden risks” and “pro-cyclical behaviour” if own models are not allowed
Profitability of insurance companies dropped in 2016
Risk-based capital a priority for new Hong Kong regulator
MetLife praises passing of Financial Choice Act in House
IAIS appoints Paserot to head of capital and solvency
Ambiguities persist in covered agreement, says former NAIC president
Brexit an opportunity for competition between EU and UK regulators
China broadens investigation into insurance regulator
Analysis
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
Agenda 2017 part 2: Disaster and disruption
Trump, the rise of populism, the soft reinsurance market, internal model updates, cyber risk, tech disruption and the possibility of rising rates present insurers with threats and opportunities in equal measure. Callum Tanner reports
Agenda 2017 part 1: Insurers prepare for another volatile year
Brexit, Solvency II look-through disclosures, SFCR reports, the Treasury Select Committee inquiry into Solvency II and the fallout from the Eiopa stress tests all present a daunting year ahead for insurance risk managers. Callum Tanner reports
My 'A' is not like yours
Fitch and AM Best are wrangling over the equivalency of their IFS rating scale. Hugo Coelho investigates what sets them apart and the implications for insurers buying reinsurance protection
"ICS is not self-executing, it is something on the shelf"
NAIC president John Huff tells Hugo Coelho how group capital rules may have little impact on US insurers and warns of the consequences of a covered agreement between the US and the EU
NAIC meeting roundup: PBR in the pocket, cyber in a mess
State insurance commissioners have taken stock of their efforts to steal a march on federal authorities during their spring get together in New Orleans. Hugo Coelho reports
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Market Insight
IFRS 17 and the challenges ahead
The new insurance contracts accounting standard brings a dramatic shift in accounting and actuarial practices, and insurers should be prepared for implementation challenges, as Kamran Foroughi explains
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Market Insight
High velocity risk management
A rapidly changing world produces rapidly emerging risks that can flummox even the most comprehensive of risk management frameworks. Neil Cantle proposes an approach to improving how insurers respond to today's threats...