France takes another Solvency II test

There has been much talk about the challenges of preparing for Solvency II, but only insurers in France can claim to have had anything like a real test. Romain Paserot at French regulator ACPR shares his view of progress with Christopher Cundy


Insurers weigh up hedges against regulatory curve

Early in November Eiopa unveiled the paper which determines the length and the method for extrapolation and sets the figures used to calculate the volatility adjustment. Finally insurers can roll out their hedging plans, as Hugo Coelho reports


CRO profile: Eberhard Müller

Eberhard Müller, chief risk officer of Hannover Re, talks to Marcus Alcock about the increasing importance of qualitative risk management, the long and winding road for internal model approval, and the problem with international capital standards


John Huff: Capital cannot be the only answer to systemic risk

While in Amsterdam for the conference of the International Association of Insurance Supervisors, Hugo Coelho caught up with Missouri insurance commissioner John Huff. Here he elaborates on his criticism of global standards, and discusses key aspects in the tug of war between the US and Europe on the convergence of insurance regulation


Targeting reinsurance systemic risk

All eyes are on the FSB's forthcoming update of G-SIIs, which is expected to include reinsurers for the first time. Marcus Alcock looks at who might be on the list and what the implications are for the market


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


Carney raises the stakes on Solvency II internal models

Mark Carney's recent indication that the Bank of England will not hesitate to withhold approval of inadequate internal models raises the question of just how heavy-handed the regulator will turn out to be, as Stephen Makin, Emma McWilliam and Ross Evans discuss


Benefit of the matching adjustment could be wafer-thin

If supervisors take a hard line on the methodology for calculating the fundamental spread and issues like diversification, new business and portfolio rebalancing, the adjustment could lose its appeal, reports Hugo Coelho


Speeding up reporting processes

Bringing forward the calibration of risk factors in proxy models is one of the strategies to comply with the five-week deadline for quarterly reporting, according to a survey by Towers Watson. Hugo Coelho investigates


Excluding terrorism risk?

As the US Congress debates the latest renewal of the Terrorism Risk Insurance Act, fears about expiration are stronger than before, with divisions over state v private sector responsibilities for insurance risk threatening the previous consensus. Hugo Coelho examines