Solvency II
AM Best: "Smooth" Solvency II transition will help Lloyd's
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s and Lloyd’s Insurance Company (China).
Lack of funds to spark Solvency II M&As
The cost of implementing Solvency II could lead to a spike in mergers and acquisitions, after a survey on how prepared the insurance industry is for the directive revealed only 31% of respondents claimed to have set aside sufficient funds.
British Insurance Awards 2011: Much to be admired
As we all know, insurance exists for that moment of truth, when an individual or business is faced with an unforeseen incident, and needs to get their life and trading back on track.
Editor's comment: Customer conundrum
Cuddly toy or cold hard cash? That appears to be the latest dilemma facing the insurance-buying public.
Lloyd's warns FSA over SII box-ticking
Lloyd's finance director Luke Savage has warned the Financial Services Authority against the perils of hiring "rookies" to approve businesses' internal capital models for Solvency II.
CEA: stress test shows strength of European insurers' solvency surplus
The CEA, the European insurance and reinsurance federation, has welcomed confirmation of the "robustness" of the European insurance market following publication of the results of the second European insurance stress test.
10% fall short of capital requirements under Solvency II stress test
One tenth of European insurers would fail Solvency II minimum capital requirements under the adverse stress scenario, according to the European Insurance and Occupational Pensions Authority.
Hoban addresses insurance community
This morning Mark Hoban, Financial Secretary to the Treasury gave a speech to the London 100 Group at the City of London Club.
News analysis - Regulation: The more things change
With detail emerging on what life under the Prudential Regulation Authority will look like, Mathew Rutter analyses the similarity of themes to the current approach and pinpoints potential problem areas.
ABI biennial conference: Insurers urged to find ways to interact with customers
Insurers must find ways of addressing their lack of direct contact with personal lines customers if they are to improve loyalty and service.
Solvency II white paper addresses importance of operating efficiency
A white paper addressing the importance of operating efficiency in the build up to the revised regulatory requirements of Solvency II, has been published by DST Global Solutions.
2014 is better Solvency II start date, say 60% of Aon Benfield conference delegates
Aon Benfield has released new findings that show 60% of European insurers attending its recent International Analytics conference think 2014 would be a better starting date for Solvency II.
Pay tops £1k per day for Solvency II actuaries
Actuaries working on Solvency II projects are commanding wages of more than £1000 per day as insurers rush to become compliant with the new rules.
Solvency II will be delayed because of 'lack of urgency'
The head of insurance at actuarial firm Barnett Waddingham has said Solvency II will be delayed because other European countries do not have the “same sense of urgency” as the UK.
Solvency II will be delayed because of 'lack of urgency'
The head of insurance at actuarial firm Barnett Waddingham has said Solvency II will be delayed because other European countries do not have the “same sense of urgency” as the UK.
Solvency II: delays and uncertainty
The latest draft of Omnibus II "seems to confirm" the delay to Solvency II, pushing the go-live date back to 1 January 2014, according to KPMG.
Risk management software aids Solvency II compliance
Risk management software from IBM is being used to improve the management of operational risk and support the requirements of Solvency II at an employee benefits firm.
Solvency II to transform insurers’ allocation of assets, says Fitch
Solvency II will alter how insurers allocate their assets, leading to shifts in demand and pricing for several asset classes, according to Fitch Ratings.
Editor's comment: Deadline decision time
It's not something a betting man would have ever wagered against but, as rumours continue to mount that the Solvency II implementation deadline will indeed be significantly pushed back, the UK insurance industry faces some difficult decisions.
EC denies any delay to SII implementation
The European Commission has denied that implementation of the Solvency II directive could be delayed until 1 January 2014, a year later than planned, despite admitting a "short transitional period" is likely to be introduced.
Customer service: Customer service at risk due to desire to reduce overheads
Companies need to be alert to the danger of compromising customer service in their attempts to reduce overheads, warned David Tryon, director of client management at DST Global Solutions.
KPMG welcomes run-off sector concessions under Solvency II
KPMG has welcomed a revised draft of the Omnibus II Directive which includes specific transitional arrangements fro (re)insurance companies in run-off under Solvency II.
Barrie & Hibbert to provide Solvency II support to Suravenir
Barrie & Hibbert is to provide the Economic Scenario Generator (ESG) of French life and pensions provider Suravenir in preparation for Solvency II compliance.
UK to "pilot" new regime if SII deadline delayed
UK insurers risk becoming the guinea pigs of new capital rules surrounding insurance companies if they press ahead with plans to implement the new framework in time for the current 1 January 2013 deadline.