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Solvency II 2020 review proposals spur proportionality concern

Irish insurance chief risk officers raised issues at a recent forum in Dublin

FSOC ratifies vote on activities-based approach to systemic risk

Move welcomed by life insurers’ association

Swiss Re to adopt IFRS consolidated reporting from 2024

The reinsurer also praised the fact that IFRS 17 will deliver comparability

Stronger and more frequent hurricanes on the way, warns AIR Worldwide

The catastrophe risk modeller said stronger and more frequent cyclones are likely in future

US P&C insurers criticise California's non-renewal moratorium

California’s insurance commissioner has stopped non-renewals in the state’s wildfire risk areas

Phoenix strikes $4.1bn ReAssure deal

The deal represents Phoenix Group’s biggest acquisition to date

BaFin lays down the law on Solvency II reporting

German regulator issues 90-page document spelling out requirements and warnings

Institute of Risk Management appoints Great-West CRO as chair

Iain Wright takes over from Socrates Coudounaris

Coface gets green light to use Solvency II partial internal model

Standard formula calibration changes motivated switch to an internal model

Insurtech Weekly: Gen Re; Cuvva; Dinghy; Trov; Verisk

InsuranceERM rounds up the latest developments in the fast-moving world of insurtech

Catalina buys Asia Capital Re to build Asian run-off platform

First Asian deal for Bermudian non-life run-off specialist Catalina

UK court approves Equitable Life transfer, dismisses Solvency II MA claim

Utmost Life & Pensions cleared to acquire Equitable’s legacy contracts

Competing priorities is key barrier for insurers' reserving processes

Data availability is the second biggest reserving challenge

Revised mortality table hits life profits in Japan

Moody’s attributes 9% profit fall among majors to 2018 revision

Insurance Europe calls for reform of regulatory process

The industry lobby group has urged policymakers to avoid inconsistencies in legislation

Scor renews contingent capital facility

Fourth renewal of equity line that will pay out following an extreme loss

People and systems preparation key to operational resilience

Experts at the Insurance Risk & Capital conference share best practice on operational disruption

CROs must move from "judging to nudging"

Allegra van Hovell-Patrizi said chief risk officers will need to take a more proactive role

IFoA appoints new CEO

Stephen Mann to replace Derek Cribb

Using gamification to help build operational resilience

AGCS' Meier explains how employees become interested in awareness issues

Apra proposes capital framework for health insurers

But Australian watchdog warns sector is still under pressure from demography, pricing

Hong Kong insurers urge delay in IFRS 17 to 2023

Hong Kong Federation of Insurers reveals it wrote to accounting body

Eiopa could revisit Solvency II risk margin after impact study

Gabriel Bernardino says input from consultation will be considered for risk calculation

Insurance product development is becoming "multi-dimensional"

Panellists at InsuranceERM’s conference explore how re/insurance products will change in future

Insurers should lead the way to address climate change, says Eiopa chief

But the financial sector is not the silver bullet to solve climate change, says Bernardino

RSA chief risk officer warns of pace threat

William McDonnell said the insurance sector would have to look beyond in-house systems

Australian hailstorm costs estimate at up to US$130m

Risk Frontiers warns of more to come in summer storms

Apra imposes company-specific capital charges on disability cover

Australian watchdog stepping in fearing underwriters withdrawing

Swiss Re earns top marks for reducing coal underwriting and investment

European re/insurers highly ranked; US and Asian firms continue to be targeted by environmentalists

Brokers disrupting insurance sector's climate efforts

Property & casualty brokers helping clients avoid sustainability agenda

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Analysis

Cannabis insurance: ending the bad trip

Conflicting state and federal laws, uncertain pricing and novel risks have discouraged most insurers from participating in the cannabis market so far. But as the US edges nearer to federal legalisation, this could change. Sarfraz Thind reports

Making sense of climate risk

Climate change is a risk of unprecedented scale, complexity and urgency. Claire Booth and Peter Kingsley outline how insurers can devise strategies to respond

Talanx RoE will be lower under IFRS 17 and 9, CFO warns

Understanding the impact of IFRS 9 and 17 is a key focus for insurers currently. German insurance group Talanx has shed light on the issue by warning its return on equity will be lower under IFRS 9 and 17. Cintia Cheong explains

Insurers get to grips with climate disclosure

It has been more than two years since the Task Force on Climate-related Financial Disclosures (TCFD) issued its recommendations to companies. Paul Walsh investigates the challenges the reporting framework has brought for insurers and what progress needs to be made

US casualty reserves: courting disaster?

Rising claims and shrinking reserves in the US casualty business have led to speculation about an impending crisis. Could it really get that bad? Sarfraz Thind investigates

The dual challenge of implementing IFRS 17 and IFRS 9

Insurers across the world whose accounting practices are based on IFRS principles are busy preparing for the most radical shakeup for a generation. Cintia Cheong explains the basics behind those changes and how the industry is preparing

IAIS Abu Dhabi: Why the Treasury and NAIC returned different ICS conclusions

“Team USA” voiced wildly divergent tones in their reaction to the ICS talks in Abu Dhabi last week. But, despite their strong statements, the US negotiators appear to be in accordance over zero implementation of IAIS’s capital accord and the potential to move forward with compromise. Sarfraz Thind reports