Solvency II
Enterprise collapse will affect 14,000 motorists
A Zurich-owned Managing General Agent will reimburse outstanding premiums to Irish motorists who have been affected following the collapse of Enterprise Insurance on Friday.
PRA warns non-life insurers over reserve releases
Financial reserves released by general insurers in 2015 were the highest in 30 years, regulators have warned.
Gable cuts underwriting operations to comply with Solvency II
Gable has announced it will "significantly reduce" the scale of its underwriting operations in Europe, and has ordered its broker network to cease writing new business with immediate effect.
Blog: The impact of Brexit on the insurance industry
The UK has voted to leave the EU. What will this mean for the insurance industry?
Editor's comment: Insurers have a major part to play
Speaking to Association of British Insurers’ members at his outgoing dinner last month, chairman Paul Evans said the organisation had never been “more relevant to its members” and “the work, focus and voice of the ABI is directed by its members, for its…
Brexit provides opportunity to overturn ‘dreadful’ Solvency II
Leaving the EU will mean that the UK can abandon the “absolutely dreadful” Solvency II regime, the former head of the civil service told MPs.
Expertise from A-Z: Taking stock of the year so far
Six months into 2016, what have been the highs and lows for the insurance industry – and what does the rest of the year have in store?
Aviva upgraded after insurer moves to quell investor concerns post Brexit vote
Investment adviser Macquarie has lowered its price target for Aviva to 442p from 502p and upgraded the stock to 'outperform' from 'neutral' following the UK’s vote to leave the EU last week.
Brexit: Solvency II likely to remain says PWC
Solvency II will "almost certainly remain" according to PWC despite the UK voting to leave the European Union as too much time, money and effort has been invested in it and the regulation is enshrined in UK Law.
Allianz hits out against new EIOPA stress tests
Europe-wide stress tests are “extreme” and unlikely to provide a meaningful picture of the health of the industry, Allianz has warned.
PRA approves Direct Line’s Group-wide internal model for Solvency II
Direct Line has confirmed it will use its group-wide partial internal model to calculate the Group Solvency Capital Requirement under the Solvency II regime, following approval from the Prudential Regulation Authority.
Europe: Solvency II - six months in
As Solvency II is entering its sixth month of implementation, our bloggers take a look at its impact on the industry. How are insurers coping with the new financial, governance and reporting requirements?
Blog: Solvency II accelerates competitive rethink
We're now a number of months into the Solvency II regime and the sky hasn't fallen in. But the scale of the compliance demands is providing fresh fuel to the debates within many businesses about whether they could compete more effectively without the…
Blog: TPT was never going to be enough
No one said the transition to Solvency II reporting was going to be easy, particularly the requirement for insurers to provide detailed look-through data on their investment portfolios. But, having witnessed the beginnings of this new regulatory…
Blog: How insurers are coping with Solvency II
Solvency II came into force on 1 January, establishing a revised set of capital requirements and risk management standards. Despite the long build-up to the implementation, several last-minute changes left much of the industry scrambling to prepare for…
Gable CEO to use 'private vehicle' to provide regulatory capital guarantee
Gable CEO William Dewsall said it would be “inappropriate” for Hogarth Underwriting Agencies to provide a £10m guarantee that would form part of Gable’s regulatory capital.
Editor's Comment: Are you in or out?
I’m a floating voter. I don’t consistently vote for the same political party.
In Depth - Brexit: What would a Brexit mean for the insurance industry?
The issue of the referendum has stirred debate – but what’s at stake?
Gable sale on the table as full Solvency II compliance deemed ‘not possible’
Unrated insurer Gable Holdings will launch a full strategic review following an assessment of its Solvency II capacity, a move likely to result in a “fundamental restructuring”, according to a statement to the stock exchange.
KPMG to let insurers compare Solvency II data
KPMG has today launched a Solvency II data aggregation service that allows insurers to benchmark themselves against other insurers.
Insurance Europe calls for changes to UFR to wait until Solvency II review
Europe’s peak insurance body Insurance Europe says there is some misunderstanding around how Solvency II liabilities are calculated, particularly its relationship to the ultimate forward rate.
Insurance Compliance Careers: The land of opportunity?
With so many rules and regulations within insurance, it is no surprise that jobs in this sector are plentiful. But are compliance staff enablers or blockers and how attractive is it as a career?
Blog: Five things I have learnt about insurance in five weeks
Since joining Post at the end of February, I have come to appreciate just how important insurance is to business. They both go hand in hand. Without insurance, business simply could not operate. Insurance is the grease to the wheels of the commercial…
Gable expects losses of £7-8m for 2015 as it updates on Solvency II compliance
Gable Holdings has confirmed its regulator the Financial Market Authority Liechtenstein has approved its funding arrangements announced in December, whereby its subsidiary Gable Insurance AG has a two-year transitional period to meet the Solvency Capital…