Solvency II
Jobs at risk as KPMG feels bite of Solvency II delays
Up to 40 actuarial jobs are at risk at KPMG as the accountancy giant feels the pain of uncertainty around the timeline for Solvency II coming into force.
SII interim measures could bring costs without benefits, warns Insurance Europe
Insurance Europe has raised concerns about the impact of interim measures in the wake of Solvency II delays, in a letter to the head of the European Insurance and Occupational Pensions Authority.
News review: British insurance staff could lose jobs
Staff at mortgage payment protection insurance provider British Insurance has been put on redundancy notice by the firm's parent company Towergate Insurance.
Insurer Arrow visits up 38% in 2012
Intensive regulatory inspections of insurers increased 38% last year according to figures from law firm Reynolds Porter Chamberlain.
Periodical Payment Orders: Unhappy New Year
Periodical payment orders gave motor insurers a headache in the renewals season as reinsurers struggled to come to terms with them.
Solvency II delay is "golden oppurtunity" to solve run-off issues
The delay in the implementation of Solvency II offers insurers a golden opportunity to deal with their outstanding run-off and US APH liabilities, according to Ruxley Ventures.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
KPMG criticises ‘disappointing’ lack of SII timetable
KPMG has branded the lack of a timetable for the implementation of Solvency II as ‘disappointing’, as the European Parliament vote to delay the vote of Omnibus II to 22 October 2013.
Solvency II compliance could move to 2016 following latest delay
The European Parliament plenary meeting to consider, and possibly approve, the Omnibus 2 amendments to the Solvency II directive has been moved back from 10 June to 22 October 2013.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Bahrain woos international players with new takaful model
Bahrain’s insurance regulator hopes new regulations will make Bahrain the jurisdiction of choice for takaful and retakaful globally.
Insurance Europe publishes Solvency II helper tab
Insurance Europe has published a helper tab to assist insurance companies that are taking part in the technical assessment currently being run by the European Insurance and Occupational Pensions Authority.
Solvency II is biggest challenge for captives says AM Best
European captives have weathered the global economic downturn well, but the implementation of Solvency II remains among the biggest challenges for the sector, according to a report from AM Best.
Editor's comment: Bowing out from Brussels
Complaining about the influence of the European Union on British affairs is almost as much a talking point as the weather in the UK, but insurers have fair grounds. Since Solvency II was first proposed, many in the UK insurance industry believe the…
UK regulator committed to risk-based regulation regardless of EU status
Plans to implement Solvency II will not be derailed by the Prime Minister’s pledge to hold a referendum on European Union membership if he is re-elected at the next general election.
Regulation: Staggering Along
The switch from the Financial Services Authority to the Prudential Regulation Authority and the Financial Conduct Authority could prove tricky — especially with Solvency II on the horizon.
Challenges and opportunities abound in 2013
Against the backdrop of a challenging economic climate and continued uncertainty over both the timescales for implementation of European regulation and varied national approaches to the adoption of it, European insurers face a number of critical…
LGTA could spell further delays for Solvency II
Trade body Insurance Europe has welcomed the launch by the European Insurance and Occupational Pensions Authority of an assessment to find the most appropriate treatment of long-term guarantees under Solvency II.
Impact study likely to cause further SII delay
The implementation of Solvency II faces further delay due to the launch a long-term guarantees assessment impact study by the European Insurance and Occupational Pensions Authority, KPMG has warned.
Trade body welcomes Eiopa revisit of long-term guarantees
The European Insurance and Occupational Pensions Authority has launched a technical assessment to find the most appropriate treatment of long-term guarantees under the forthcoming Solvency II regulations.
P&C insurers better placed than life firms to weather economic storm
Property and casualty insurers are better positioned to withstand a slow growth environment compared to life insurers, which will be more impacted by the weak global economy given they are mainly "discretionary" purchases and the low interest rates,…
L&G offers group discounts on premium
Legal & General has claimed to be the first major insurer in the UK to offer group discounts on home insurance.
Eiopa launches LTGA consultation
The European Insurance and Occupational Pensions Authority launched today a technical assessment of the long-term guarantee package agreed by the European Parliament, the Council of the EU and the European Commission in the context of the Omnibus II…
European insurers look to exit run-off business
The trend of insurers looking to exit their legacy business is likely to continue over the next 12 months according to Pricewaterhouse Coopers.