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From the ORSA and risk management software to models and the use test, insurance company CEOs will face new tests of their knowledge as Solvency II approaches. Jessica Baylis asked five risk experts about the level of understanding that supervisors will expect of the CEOs.
A CRO's greatest challenge is conveying the complexities of risk to their CEO. In an interview with Jessica Baylis, Kiln's Andrew Hitchcox advises on how this can be overcome and argues for a greater focus on model breakdown risk.
CEIOPS publishes results of EU-wide stress tests
"Agent-based models" have been used successfully to replicate complex behaviours with very simple rules. Neil Cantle examines the implications for financial modelling.
Reinsurance offers more flexibility than the capital markets since its structure can be adjusted to the development of the risk profile every year, says Margarita von Tautphoeus, head of Solvency consulting at Munich Re
But the price of annuities is still likely to rise
Main points highlighted by CEIOPS' group on the liquidity/illiquidity premium issue
For those companies interested in developing a partial or full internal model, a proper understanding of article 101 and its consequences for model architecture and calibration-related issues is crucial, explain Marc Beckers and JÃ¼rgen Wielandts
Sets up credit facility for expansion of life business
Towers Watson gives advice for pre-pre-application phase