Solvency II
FSA to work with insurers to avoid costs from Solvency II delay
Commenting on the announcement yesterday that the Financial Services Authority plans to work with insurers to help them avoid costs from a 12 month delay to the introduction of Solvency II, Steven McEwan, of counsel in Hogan Lovells Financial…
ABI to collate members' views on Solvency II consultation
The Association of British Insurers has begun the task of compiling the views of its members following the European Insurance and Occupational Pensions Authority’s decision to launch a Solvency II consultation.
Q3 market movements take toll on insurers' capital adequacy, S&P says
Recent financial developments, combined with marking-to-market of insurers' investments, has depleted European insurers' balance sheets, according to a report by Standard and Poor's.
Strong US ties help rate Axa's entities as 'AA-'
Axa has had all its entities' insurer financial strength ratings affirmed at 'AA-' by Fitch Ratings.
US expected to achieve Solvency II equivalence
The US solvency regime for insurers is expected to achieve equivalence with the European Union's Solvency II requirements according to Fitch Ratings.
Japanese, Swiss and Bermudian regimes largely equivalent to Solvency II, says Eiopa
The supervisory systems operating in Switzerland, Bermuda and Japan are largely equivalent to Solvency II, but not for all classes, according to the European Insurance and Occupational Pensions Authority.
Aviva to axe 950 jobs as Dublin-based operation set to be dismantled
The decision to dismantle Aviva’s Dublin-based European holding company with the loss of up to 950 jobs has been blamed on “economic and regulatory burdens”.
Aon Benfield proposes optimisation strategy for Solvency II
Aon Benfield claims to have developed an optimisation process for setting a consistent strategy across asset and liability risks which will support insurers to better manage their risk and capital under Solvency II.
Cyber liability: Getting hacked off
Back in 1983, when Hollywood produced a film about a young boy inadvertently hacking into military systems, the possibility of such an occurrence seemed the stuff of fantasy and doom-mongers.
In series: Lloyd's & London Market: Staying number one
Tightening regulation and a less advantageous tax regime are making it tough for Lloyd’s to retain its pre-eminence, but is protectionism the greater threat?
Insurance Insight weekly update live
Insurance Insight’s weekly update is live with an article on how European insurers will be affected by US Asbestos, Pollution and Health Liabilities when Solvency II is implemented; and a guest blog on brokers putting business out to auction.
European insurers and US Asbestos, Pollution and Health liabilities
European insurers may not currently be focused on US Asbestos, Pollution and Health liabilities but according to John Winter they need to act now to avoid problems as Solvency II is implemented.
Editor's comment: No news is bad news
Is it just me or are others growing tired of ‘news’ on the seemingly omnipresent – and supposedly incoming – Solvency II regime that adds nothing to the uncertainty over implementation deadlines?
News analysis: Insurers urged to negotiate with FSA as Solvency II confusion continues
The FSA has announced a delay to Solvency II but getting clarity remains a priority for government and insurers.
In series - Lloyd's & London market: Power to the people
With employees rightly recognised as crucial to company success, Lloyd’s and London market players are gearing up their efforts to attract and retain top talent.
France and Germany lagging behind on Solvency II
French and German insurers are behind UK counterparts when it comes to Solvency II, according to Fitch.
European insurance market facing critical moment
The European non-life insurance sector is approaching critical moments, with economic, regulatory and market forces set to severely test the industry as a whole, according to a report from AM Best.
Solvency II forces actuaries back on the government’s skills shortage list
A shortage of actuaries to deal with Solvency II projects has forced the UK government to relax its visa rules, according to Re Think Recruitment.
Insurance Insight October is now live
Insurance Insight October is now live with an article on ratings across Europe; a look at how a huge cloudburst in July has affect the Danish insurance market; and an interview with Alberto Corinit, formerly of the CEA and CEIOPS.
Q&A: Alberto Corinti
Alberto Corinti, director at Promontory Financial group, formerly of the CEA and the Committee of European Insurance and Occupational Pension Supervisors spoke to Francesca Nyman, giving a regulator’s perspective on the biggest challenges facing the…
UK regulator expects Solvency II to be delayed
The UK's Financial Services Authority has said it expects insurers to have to comply with Solvency II rules from the delayed 1 January 2014 date.
Solvency II announcement negative for some firms
George Crooks of Wolters Kluwer Financial Services, has commented on the Financial Services Authority revised deadline for Solvency II to 2014.
New Zealand faces mass withdrawal as earthquake claims stack up
Insurers and reinsurers could stop providing earthquake cover in New Zealand altogether, forcing its government to handle claims.
In series - Lloyd's & London Market: Technological challenges
After a slow start, Lloyd’s and the London market are embracing technological developments to drive down cost, time and errors. But is its embrace of new mediums firm and fast enough?