Alignment of regulatory requirements

Enhancing the effectiveness of Supervisory Colleges

Posted on by CRO Forum
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In recent years, there have been substantial changes in the approach to supervision of insurance groups. There has been much debate on group capital requirements and risk management and reporting obligations. However, group supervision is not only about capital, but also the supervisory process. Colleges are a key element of group supervision and their practice […]


NTNI from a CRO Forum Perspective

Posted on by CRO Forum
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The International Association of Insurance Supervisors (IAIS) is participating in a global initiative, with the Financial Stability Board (FSB) and the G20, to identify potential global systemically important insurers (G-SIIs). As part of this initiative, the IAIS has issued a public consultation on proposed measures to identify any insurers whose distress or disorderly failure, because of their size, complexity and interconnectedness, would cause significant disruption to the global financial system and economic activity. The CRO Forum responded to the IAIS draft policy measures. This paper provides some additional background to the response provided.


Practical application of Liquidity Premium

Posted on by admin
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The CRO Forum believes that the liquidity premium is a fundamental part of the economic valuation of insurance contracts. We support the underlying principles agreed by the Task Force, and the formulaic approach for deriving the liquidity premium adopted in QIS5.


Currency Risk under Solvency II

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In this paper we discuss the idea behind currency risk. If the guidance for the required capital calculation for FX risk is based on a shock applied to the Net Asset Value of the entities in their respective reporting currencies, then this can create hedge incentives that endanger the solvency of the group and hence policyholder benefits.


Insurance industry urges EU Commissioner Barnier to correct Solvency II implementing measures

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In this press release, Representatives of the European insurance industry have urged the European Commissioner for the Internal Market and Services, Michel Barnier, to ensure that the overly conservative and prescriptive elements still contained in the draft implementing measures for the forthcoming EU regulatory regime, Solvency II, are urgently addressed.


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