Solvency II
Trade Voice: ABI's Hannah Gurga reinforces the vital role insurance is playing in the midst of the permacrisis
Hannah Gurga, director general of the Association of British Insurers, says the industry needs to shout about the vital role it plays in society, and argues that regulatory reform could enable it to have an even greater impact.
Government sides with insurers over PRA
Chancellor Jeremy Hunt’s first Autumn Statement delivered the tax hikes and spending cuts that were widely expected as well as the Solvency II overhaul insurers had long hoped for.
Top 100 UK Insurers 2022
To date, the UK non-life market has been able to withstand the impact of operating challenges and with capital adequacy robust, William Keen-Tomlinson explains why the market has something of a buffer to absorb future uncertainty
Aviva’s Amanda Blanc calls on the government and regulator to resolve the issues around Solvency II to help UK ‘level up’
Aviva’s CEO Amanda Blanc has flagged a “discrepancy between the regulator and the industry” in the overhaul of Solvency II regulations and urged the government to support UK insurers levelling up so they can help both the climate and the economy.
Spotlight on periodical payment orders: The benefits of transferring PPO risks to a life insurer
Start-up life insurer AUL Assurance is targeting general insurers, offering them an opportunity to reduce their exposure to periodical payment order risks. What are the benefits of such transfers and why might the recent ASHE inflation figures make this…
Spotlight on periodical payment orders: How do insurers manage PPO risks?
Introduced in April 2005, periodical payment orders might not have grown in the volumes some expected, but still pose challenges for general insurers not least due to their similarity to longevity life risks. Post spoke to both insurers and other…
Rishi Sunak and John Glen meeting with insurers could be 'first stage' in implementing Solvency II changes
A meeting between insurers and Chancellor of the Exchequer Rishi Sunak and Economic Secretary to the Treasury John Glen could be the “fist stage” in attempt to work out an agreement for Solvency II changes following Brexit.
Interview: James Blackham, By Miles
James Blackham, CEO of By Miles, talks to Jen Frost about why the regulator had to step in over dual pricing and why usage-based insurance is the future
Solvency II consultation moots 30% risk margin reduction for general insurers
The Treasury has launched a consultation on proposed changes to the UK’s Solvency II regime, which it says could “unlock tens of billions of pounds for long-term productive investments”.
Analysis: Unstable firms are falling off the Rock
Post looks at a series of insurer failures in Gibraltar – and asks what the future will look like for existing and new entrants.
Changes to Solvency II rules to free up 'meaningful amounts of capital', says Glen
The UK’s rewriting of Solvency II rules will result in the release of “meaningful amounts of capital for productive investment,” John Glen MP, the Economic Secretary to the Treasury, has said.
O'Dwyer focuses on collaboration in ABI address
Current industry challenges require collaboration if much needed support is to be delivered, ABI president and Royal London CEO Barry O’Dwyer has told insurers.
PRA flags climate change and silent cyber in Dear CEO letter to insurers
The Prudential Regulation Authority has warned insurers on the need to consider silent cyber exposures and that progress on embedding supervisory expectations on climate change has not been consistent across all firms.
European insurance industry able to meet customers promises even under extreme one in 1000 year events
A Solvency II stress test conducted by the European Insurance and Occupational Pensions Authority confirms the European insurance industry’s ability to meet promises to customers even under extreme one in 1000-year events.
Intelligence: Reforms under the microscope
In its pre-budget statement the Association of British Insurers called on the government to reform the financial services regulation inherited from the European Union and unlock nearly £1trn over 15 years that could be invested in the UK’s transition to…
Top 100 UK Insurers 2021
Covid-19 had the biggest impact on insurers in 2020. Commercial lines insurers suffered while personal lines insurers broadly benefited according to William Keen-Tomlinson, senior financial analyst in London for AM Best.
The top 30 European Insurers 2021: A turbulent time
The impact of Covid-19 saw the European non-life insurance market report a decline in gross written premium and profit after tax. Mathilde Jakobsen, director, analytics, Amsterdam, AM Best, analyses the numbers and reports on the movements in the ranking…
Q&A: Caroline Wagstaff, London Market Group
In her first interview since becoming interim CEO of the London Market Group, Caroline Wagstaff explains her route to the role, delivering for government, customers, and future talent as well as how she balances the demands of the market-wide body’s post…
View from the Top video: Driving capital optimisation
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 Eric Paire, head of capital advisory, Aon, discussed why insurers might be struggling to create a positive spread above their cost of capital.
Treasury confirms 'strong case' for Solvency II reforms to free up resource and allow UK insurers more flexibility
The government is planning to bring forward reforms to free up resource on insurers’ balance sheets and allow insurers more flexibility around investments as it rewrites the UK’s Solvency II regime.
Editor's comment: Here's to a better second half
We had high hopes for 2021. We were keen to see the back of 2020 which brought with it a global pandemic, toilet roll hoarding, national lockdowns, home schooling hell, business interruption court cases, a ban on sports, enforced staycations, and yet…
Lloyd's reinsures emergency central fund
Lloyd’s has taken out a five-year reinsurance policy against payments from its emergency central fund.
Tackling climate change top of ABI agenda, says Huw Evans
The Association of British Insurers has been working hard on an industry roadmap for tackling climate change and is aiming to publish its findings on 7 July, director general Huw Evans told the audience of the Post LIVE annual conference.
Intelligence: What will the reviews of Solvency II mean for the UK and beyond?
When the Solvency II regulation was conceived in 2001, the term Brexit didn’t even exist. Fast forward 20 years and as well as the UK’s exit from the European Union the general insurance market is facing a pandemic no one foresaw and persistently low…