Solvency II
Solvency II: still dividing opinion in the insurance industry a year on
In light of Brexit, what will regulation look like in the future?
PRA plans fee for Solvency II internal model approval
The Prudential Regulation Authority has announced a proposal to introduce a fee for Solvency II full and partial internal model approvals.
Nelson: Regulatory burden hampers Solvency II
The regulatory burden imposed upon insurers by Solvency II hampers a fundamentally good regulatory framework, Lloyd’s chairman John Nelson has said.
PRA to review Solvency II reporting requirements
The Prudential Regulation Authority is to conduct a review of Solvency II reporting requirements, in an attempt to ease insurers' reporting burdens.
Charles Manchester on brokers using unrated insurers
Brokers are regulated by the Financial Conduct Authority, so they don't really come into contact with the Prudential Regulation Authority, which is primarily concerned with the soundness of insurers, ensuring protection for policyholders.
Solvency II safeguards mean no need for EU rule change
The safeguards provided by Solvency II mean that a new EU framework on recovery and resolution for insurers is not required, according to Insurance Europe.
Greening up your investment portfolio
The last decade has finally started to see the talk about the virtues of sustainable energy result in significant action, particularly in the area of electricity, where it has been driven primarily by wind, solar energy and biomass.
Career file: Jim Bichard
Bichard has been appointed head of PWC’s UK insurance practice
This week: Personal injury, fundamental flaws and results
Personal injury took on a new meaning for me this week when I discovered a bruised ankle picked up during a recent paragliding adventure was actually a bad break.
Solvency II risk margin is ‘fundamentally flawed’: PRA
Solvency II is broadly fine but there are some bugs that need to be ironed out, the CEO of the Prudential Regulation Authority has said.
Interview: Jim Bichard, PWC
When the referendum result came in on 24 June last year, there was a moment of disbelief in the market. Many business leaders were forced to re-examine what exposures they faced and what steps they needed to take next.
Solvency II driving demand for reinsurance
January renewals show that Solvency II will increase demand for reinsurance products as European insurers attempt to strengthen their capital position through risk transfers, according to Fitch Ratings.
RSA legacy sale to bolster its Solvency II position
RSA will use the sale of its legacy assets to further bolster its Solvency II position, according to its chief financial officer.
Market must prepare for major loss event, says Hiscox chairman
The London market must be prepared for a major loss event according to Robert Childs, chairman of Hiscox.
Solvency II could harm consumers, says Insurance Europe
Solvency II is too conservative and harms consumers, Europe’s largest federation of trade bodies has said.
ABI calls for changes to ‘flawed’ Solvency II risk margin
Insurers have submitted a request to the regulator for changes over a “flawed” portion of Solvency II.
UK could be downrated as a result of Brexit, says Fitch
A hard Brexit may lead to the UK's sovereign rating being downgraded.
Insurers hold up under ‘extreme’ EU stress tests
Insurers have held up under “very severe” circumstances as part of a Europe-wide market stress test.
Review of the year 2016
2016 started with several UK regions under water, and then saw the launch of Flood Re. It underwent the largest overhaul of insurance law in a century and it finishes on a long awaited reform. Insurers, brokers and industry representatives are sharing…
Updated: Solvency II has 'not been worth it', ex-PRA director admits
Solvency II has "not been worth it", the former insurance director at the Prudential Regulatory Authority has admitted.
ABI urges regulators to 'refine not replace' Solvency II post-Brexit
Insurers are calling on regulators to refine Solvency II to better suit the UK market, rather than replace it entirely when the UK leaves the EU.
Scandinavian Gable policyholders not protected by government schemes
Scandinavian policyholders will not be protected by government guarantee schemes if Gable is declared bankrupt.
Gable needs £58.7m capital injection
Gable needs to provide £58.7m in order to meet its Solvency II requirements, according to its administrator.
Gable to take ‘robust’ defence against insolvency petition
Gable is taking “the most robust” action against its administrators over any petition to declare the company insolvent.