Reinsurance News
Solvency II
PRA proposes Solvency II risk margin reforms to UK Treasury
8th June 2018
Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer (CEO) of the UK’s Prudential Regulation Authority (PRA), has proposed changes to the design of risk margin in Solvency II rules, which he has suggested are currently too sensitive to the level of interest rates. In a letter to Nicky ... Read the full article
PRA and UK Treasury consulting on extensive Solvency II reform package: Sam Woods
27th February 2018
Speaking at the annual conference of the Association of British Insurers (ABI), Sam Woods, Deputy Governor for Prudential Regulation and Prudential Regulation Authority (PRA) Chief Executive Officer (CEO) said consultations are now underway for an extensive package of reforms that aim to improve re/insurers' implementation of Solvency II. Woods said that ... Read the full article
Insurance Europe raises concerns over EIOPA review of Solvency II
7th February 2018
Insurance Europe has raised concerns over the European Insurance and Occupational Pensions Authority (EIOPA) draft advice to the European Commission on its 2018 review of Solvency II, stating the interest rate risk and proposals on the Loss Absorbing Capacity of Deferred Taxes (LAC DT) may not be feasible economically. The insurance ... Read the full article
U.S. and EU regulators to focus on strengthening cooperation
2nd February 2018
In the first of three events designed to strengthen U.S. and EU regulatory cooperation, the National Association of Insurance Commissioners (NAIC) and the European Insurance and Occupational Pensions Authority (EIOPA) discussed bilateral updates to regulatory and market developments. The forum was held prior to the seventh EU-U.S. Insurance Symposium and hosted by ... Read the full article
Bank of England seeks to lighten Solvency II reporting overhead
11th January 2018
The UK Bank of England's Prudential Regulatory Authority (PRA) arm has begun a new consultation process which could result in changes to ease some of the regulatory reporting burden re/insurers have faced under Solvency II. The proposals, contained in a consultation paper titled "Changes in insurance reporting requirements", ... Read the full article
PRA proposes Solvency II implementation reform, which could raise costs for re/insurers
27th October 2017
Both the implementation and adoption of Solvency II regulation has been expensive for insurers and reinsurers, and proposed amendments to the implementation process by the Prudential Regulation Authority (PRA) could drive costs even higher, despite potentially simplifying the process. The PRA has released the first of its series of consultation papers ... Read the full article
Uncertainty remains but London expected to be global re/insurance hub post-Brexit: A.M. Best
19th September 2017
Widespread uncertainty remains, but despite the UK's vote to leave the European Union (EU), global ratings agency A.M. Best expects London to maintain its status as one of the world's leading insurance and reinsurance hubs. In response to the UK's Brexit vote, a number of insurers and reinsurers have announced plans ... Read the full article
98% of UK and Irish insurers sufficiently capitalised for Solvency II
30th August 2017
Advisory firm LCP surveyed insurers' complicity with Solvency II from across the UK and Ireland and found 98% have sufficient capital to cover Solvency Capital Requirement (SCR) but nearly a quarter failed to accurately fill out their Quantitative Reporting Templates (QRT). Cat Drummond, LCP Partner and author of the report, advised firms ... Read the full article
Solvency II disclosures show EU captives generally strong: A.M. Best
28th June 2017
According to rating agency A.M. Best, the Solvency II disclosures published by European captive insurance companies show that the captives in the region are generally healthy and strong. A.M. Best analysed the Solvency and Financial Condition Reports (SFCR) published by its rated European captives and has also met with captive managers ... Read the full article
Re/insurers’ ORSA implementation progressing, but improvements needed: EIOPA
26th June 2017
Most European insurers and reinsurers have made solid progress regarding the implementation of the Own Risk and Solvency Assessment (ORSA), but the European Insurance and Occupational Pensions Authority (EIOPA) has called for further improvements. A supervisory statement released by the EIOPA explores the implementation of ORSA under Europe's Solvency II framework, ... Read the full article
Solvency II “may not provide a reliable picture of the underlying economics”: A.M. Best
22nd May 2017
Rating agency A.M. Best has said that it does not intend to use the Solvency II regime disclosures of solvency and financial condition as inputs for its own rating methodology, saying they "may not provide a reliable picture of the underlying economics of an insurer’s balance sheet at either the ... Read the full article
Interest rates cause sharp increase in longevity reinsurance: Bank of England
21st February 2017
David Rule, Executive Director of Insurance Supervision at the UK's Bank of England, said this morning that interest rate sensitivity has helped to drive an uptick in longevity reinsurance usage. Speaking at an Association of British Insurers event today, Rule discussed Solvency II as a regime, with a particular focus on ... Read the full article
Solvency II fuelling increased reinsurance demand: Fitch
16th February 2017
Commentary from reinsurance companies following the key January 1st 2017 renewal season supports the view that Solvency II regulation will increase demand for reinsurance protection, according to international rating agency, Fitch Ratings. The benign large loss environment and abundance of capital in the global reinsurance market, from both traditional and third-party ... Read the full article
- ← Previous
- 1
- …
- 4
- 5
- 6
- 7
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
