Liquidity has become a fluid concept in financial markets

Melanie Mitchell makes the case for decreased liquidity in corporate bond markets, and explains how investors should respond


Breaking down blockchain

Talk about blockchain is reaching fever pitch in financial circles and applications for insurers are beginning to emerge. But confusion is rife and is clouding innovation, as Asa Gibson reports


Germany hits the brakes on its €32bn ZZR

The ballooning level of additional interest rate reserves has prompted reforms to the rules, but few insurers took advantage in 2015. Hugo Coelho reports


Add-ons' exposé could prompt shake-up of insurance products

Mounting regulatory scrutiny on ancillaries might pave the way for a reform of general insurers' product range, particularly if the changes cause profits to fall. Hugo Coelho reports


Dutch insurers tread the MA minefield

The Dutch regulator is poised to publish guidance for insurers on use of the matching adjustment. Repackaging of mortgage loans is one bone of contention, another is the treatment of pension contracts. Hugo Coelho reports


South African insurers QIS goodbye to easy 2015

South Africa's latest study on the impact of its new solvency regime yielded some worrying results for re/insurers. Christopher Cundy talks to the regulator and market watchers to see what it means for the sector


Danish regulators flesh out prudent person principle

The Danish insurance supervisor, regarded as one of the leaders of the Solvency II pack, has voiced its concern over the industry's growing exposure to alternative asset classes. Hugo Coelho explores.


French health mutuals show fraternité in pillar 3 solution

When an entire sector faces the same issues in complying with Solvency II, collaboration seems a sensible response. France's association of health mutuals has done just that by developing pillar 3 software for its members. Christopher Cundy reports


Portuguese insurers under pressure to sell bank debt

The Portuguese insurance supervisor has found that one in five insurers fall short of capital under Solvency II, even after taking into account the benefit of the volatility adjustment. What's more, concentrated exposures to the financial sector are sending capital requirements through the roof, as Hugo Coelho explores


The broad view

Tom Wilson, CRO of Allianz, talks to Marcus Alcock about the need for supervisors to adapt as well, his difficulty with traditional insurance being deemed systemically relevant, and the trials and tribulations involved in submitting a trial IMAP which is over 100,000 pages long