Focus on

Below are three articles from InsuranceERM magazine that delve into focus areas of the conference: the solvency and financial condition report (SFCR), submitting annual returns to supervisors and IFRS 17 implementation.

The articles are free to read and will give you a flavour of the discussions to be had on the day, so take advantage before joining us on 7 June.

Telling the solvency story

The Solvency II solvency financial condition report (SFCR) is causing consternation among insurers. The aim behind the SFCR is to provide greater transparency to analysts and stakeholders into an insurer's Solvency II-related state-of-health.

But, for a first-time exercise, the rules around disclosure, language, content and consistency have all been quite vague. How do insurers balance the requirements of disclosure with confidentiality, or interpret this most loose fitting of regulatory diktats?

Our Data for ERM & Solvency II conference will examine how to deliver more transparency to stakeholders, how to source the required information on business and performance, and the company's risk profile and solvency position.

Free article: read more

Supervisors face the flood of Solvency II data

It is an astonishing statistic: each year, because of Solvency II, UK insurers will collectively submit some 650 million items of information to the regulator. Scale that figure up across Europe and the total reaches well into the billions.

As insurers started to deliver their first quarterly reports in May last year, it begs the question: what are supervisors going to do with all that information?

At this conference the Central Bank of Ireland will discuss their validation approach and early lessons on submission of the first annual returns under Solvency II, while Paul Appleton from Lloyd's will give an insurer's perspective on it.

Free article: read more


IFRS 17: the new cloud on the horizon

After two decades in the making, the final text for IFRS 17 – previously called IFRS 4 Phase II – is pencilled for release in May, with the International Accounting Standards Board (IASB) requiring industry implementation by 1 January 2021.

Insurers are looking for fundamental changes – otherwise some will face a long and expensive path to compliance.

At Data for ERM & Solvency II a dedicated panel will examine what IFRS 17 will mean for data and actuarial systems, how the new accounting regulation will reshape P&L reporting, new implementation challenges and more.

Free article: read more