Risk Risk Management, Models, Catastrophe Risk, Longevity, Mortality

News

AIR Worldwide warns of likely $4.6bn Florence insured losses

Florence was downgraded to a tropical depression earlier this week but still brought destructive flooding

Still room for SFCR improvement, BaFin tells industry

German regulator says improvements are evident in second year of reporting, though

PRA highlights underwriting and reserving worries within actuarial function

Issues include insufficient challenge, independence and objectivity

KPMG promotes Simon Ranger to lead UK insurance

Simon Ranger previously held roles at Deloitte and Prudential UK

Marsh & McLennan swoops for JLT

The mega deal will combine two of the largest insurance and reinsurance broking groups

Analysis

Most of Europe's non-life business "marginal or loss-making" in 2017

Analysis by Insurance Risk Data of combined ratios reveals marine, aviation and transport is the sector with the least profitable premiums. David Walker reports

Tokio Marine overhauls risk management systems

The Japanese insurance group has upgraded its risk management processes to eliminate manual interventions and deliver an enhanced view of group risk. Christopher Cundy reports

Californian commissioner warns over fire insurance risk

California is not at a crisis point yet in terms of the availability of insurance to citizens burnt out in last year's fires, but the trends are not good, Dave Jones the state's insurance commissioner says. David Walker reports

Supervisors inconsistent in monitoring climate risk

Supervisors' varying levels of familiarity with climate risk requires the establishment of a global framework for measuring and managing those risks, according to the IAIS and the UN SIF.

Capital modelling: building a better correlations matrix

Correlation matrices have a major influence on how internal models allocate capital, but conventional processes sometimes struggle to make sense from a business perspective. Colin Kerley suggests an alternative approach

Equity release mortgages: stopping the roof falling in

The Prudential Regulation Authority has shaken up life insurers by proposing new assumptions around the valuation of ERMs. The more prudent approach seeks to avoid a potential disaster if house prices stagnate or crash, but the impact on insurers could be serious. Christopher Cundy reports