Despite strong QIS5 results, market participants agree that Sweden's insurers need to do a lot of work to get up to speed for Solvency II. Extending the go-live date to 2014 could bring much needed relief for both insurers and regulators, as Sarfraz Thind reports
Many re/insurance companies have increased their original loss estimates for this year's catastrophes in Japan and New Zealand - some dramatically. Helen Yates looks at the difficulties of gauging the size of earthquake claims and asks how damaging "loss creep" can be.
German insurers are well capitalised but the German insurance association plans its own QIS next year because it says Eiopa's QIS5 destroyed confidence in Solvency II. Lorna Davies looks into Germany insurers' concerns over the directive
18 responses to consultation on Solvency II reporting
Avoiding the costs of dual-running an ICAS and Solvency II model during 2013 and other issues arising from the delay in implementation of the directive to 2014 are clouding insurers' planning. Three experts give their views on the areas where firms should be focusing
FSA consults on transposing directive into UK law
An insurer has to demonstrate that its internal model has been independently validated in order to gain regulatory approval. Andrew Holland, Tamsin Abbey and Keith Bevan describe which areas of a model require validation, the tools needed and the board's responsibilities.
Monetary easing in both markets will lower returns
USPs should be attractive for many insurers in Europe, but some experts say regulators need to make the rules more flexible and clarify a number of points. Eiopa instead is delaying an expected consultation on the subject.
Insurers are facing challenges on both sides of the balance sheet from the market environment and regulatory change. New approaches are needed but there are pitfalls. Helen Yates explains