Solvency II
Europe: Navigating the European maze
The European Union is in a state of flux, with a new parliament elected and an overhaul of the commission adding to an already complex institution. Where does this leave the insurance industry?
State of the Insurer Nation Blog: The impact of regulation on insurers and policyholders
Strong regulation of the insurance sector is a necessity that safeguards customer interests, but this needs to be balanced with protecting the commercial viability of insurers.
The State of the Insurer Nation: Week One: Regulation
In the first report of a five-part series covering Post’s latest State of the Nation survey, Mairi MacDonald reports on how regulation of the insurance industry is viewed by insurance CEOs and managing directors and how they think it could work better…
Northern European countries ahead of southern counterparts on SII readiness
Insurers in northern Europe are better prepared for Solvency II than those in the southern part of the continent, according to data specialist Silverfinch.
Europe: The year ahead for run-off business
Solvency II, the growing legacy market and expanding run-off activity are among the main challenges facing discontinued insurance business in Europe.
Blog: Into the Solvency II home stretch
Time moves fast in the autumn. The moment summer ends, Halloween is upon us, followed rapidly by Bonfire Night, Christmas, New Year... and, oh yes, Solvency II.
Unipol launches Dublin-based reinsurer
A reinsurer targeting property and casualty business in continental Europe has been launched in Dublin, Ireland, by Italy-based Unipol Sai Assicurazioni in order to capitalise on the rewards for diversification under Solvency II.
Gable supportive of new Liechtenstein GI entrants
Liechtenstein-based insurer Gable Holdings would welcome other general insurance companies entering the principality as it revealed it has spoken to the Liechtenstein regulator about companies interested in positioning themselves in the territory.
Europe: Lure of Liechtenstein
Liechtenstein has more companies than citizens, but are UK insurers keen to join its corporate club?
Senior insurance managers' regime rules open to interpretation
The application of the senior insurance managers' regime has been deemed open to interpretation by market commentators, amid predictions brokers could be subject to a similar, more informal, regime in the future.
FCA publishes reformed approved person's regime for SII firms
The Financial Conduct Authority has today confirmed reforms to the approved person's regime for Solvency II firms including changes to governance arrangements and new conduct rules to encourage appropriate behaviour by staff.
Carney must clarify 'scope' of senior managers' regime
Bank of England governor Mark Carney needs to clarify the way the new senior managers' insurance regime interacts with Solvency II, according to one law firm.
SIMR: enhanced responsibility and accountability for senior management
Significant changes are in store for the UK's rules for senior managers of insurance and reinsurance firms, including Lloyd's managing agents and firms not subject to Solvency II.
Carney to unveil new rules for insurance managers this week
Bank of England governor Mark Carney will this week unveil new measures to make insurance managers individually accountable for the failure of their firms, after consulting on proposals earlier this year.
Europe: Almost ready won't wash with regulators on 1 January
If someone were to ask the question of whether insurers are ready for Solvency II, the answer would be, "almost". But this simple response doesn't fully express the extent of work still to be done as we approach the biggest regulatory change the industry…
Europe: Opportunities in Middle and Eastern Europe despite geopolitical risks (26 Feb)
Despite the Russian-Ukraine crisis, 2014 brought hope of a revival for the regional market in Middle and Eastern Europe. Economic prospects have been positive, regardless of the continual geopo
PRA sets December deadline for final decision on SII models
The Prudential Regulation Authority is to make final decisions about firms' internal Solvency II models in December, according to its insurance supervision executive director Sam Woods.
Lure of Liechtenstein questioned as reports of insurer interest surface
The Liechtenstein financial regulator has flagged an uptick in insurance companies looking to establish a presence in the principality despite analyst scepticism about the benefit of the territory as an outpost for UK insurers.
Europe: Solvency II - Getting through the last mile
With Solvency II due to go live on 1 January 2016, there's still a lot of work to do, warns Accountagility's Robert Gothan.
Europe: Breaking up is hard to do
A British exit from the European Union could be voted on as early as 2016, to avoid a clash with the French presidential and the German federal elections.
IRM unveils guidance to ensure Solvency II risk models are 'fit for purpose'
The Institute of Risk Management’s Internal Model Industry Forum has published a guidance document based on its research into the effective validation of risk models created by the insurance industry to comply with the requirements of Solvency II.
Non-Solvency II insurers to avoid PRA regulatory burden
Smaller insurers will not be over-burdened with excessive regulation under the Prudential Regulation Authority's proposals for companies outside the scope of Solvency II, according to market observers.
Motor market constraints not Gibraltar-specific, GIA says
Market constraints that contributed to Gibraltar-based underwriter the Service Insurance Company ceasing to write business are likely to felt by motor insurers Europe-wide and not just in the UK overseas territory, the Gibraltar Insurance Association…