Chile edges towards risk-based capital for insurers

Chilean insurers were strong enough to weather the financial crisis and the devastating 2010 earthquake. Now they're readying themselves for a framework similar to pillar 2 of Solvency II, while awaiting the regulator's plan for pillar 1, as Rodrigo Leiva explains


FINMA proposes SST changes because of SII delays

Swiss authority also addresses interest-rate problem


Eiopa chairman bemoans spending cut

Bernardino wants independent line for authority in EU budget


Insurance Europe welcomes long-term guarantee tests for Omnibus II

But regrets impact assessment may lead to a Solvency II delay


IMAP firms have underestimated the data challenges

An FSA report judges that most firms are on the right track to meet the internal model data requirements but some lag on basic governance issues, like grasping the principle of accuracy, completeness and appropriateness of data. Lorna Davies reports


Insurers braced for billion-dollar losses from US drought

AIR estimates losses up to $20bn


US sells remaining AIG assets for $6.6bn gain

Brings taxpayer bail-out of insurer to close


NAIC's ORSA identified as top insurance risk trend in North America

SunGard lists 10 developments shaping firms' strategies


Typhoon Haiku causes $230m insured losses

"Urgent need" for more natural catastrophe coverage in China


Top insurers lack understanding of capital modelling

Focus on compliance masks failure to see strategic benefits, says KPMG