Solvency II

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

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.

Insurance industry urges EU Commissioner Barnier to correct Solvency II implementing measures 2017-05-10T20:05:29+00:00

Principles Governing Transitional Provisions

Solvency 2 represents a step change in the prudential regulation of insurance that promotes the best practice standards of risk management advocated by the CRO Forum. The challenge of implementing a harmonised and risk-based economic approach across the EU should not be underestimated.

Principles Governing Transitional Provisions 2017-05-10T20:05:29+00:00

Why ‘expected future profits’ must be treated as tier 1 capital

The role of ‘expected future profits’ in determining a firm’s own funds is attracting much discussion, with suggestions that they should be excluded from tier 1 capital. We believe this is at least in part due to a misunderstanding of their nature – even the term ‘expected future profits’ is misleading and we prefer to refer to them as in-force cashflows.

Why ‘expected future profits’ must be treated as tier 1 capital 2010-04-20T10:10:19+00:00

Carbon nano tubes

The Emerging Risks Initiative releases today three papers on risks emerging in the insurance industry, namely: Environmental liabilities & biodiversity losses; Carbon nano tubes (CNT); and Workplace related stress. The papers identify elements of the changing risk landscape that may create new challenges for stakeholders such as public authorities as well as financial institutions like insurance providers.

Carbon nano tubes 2010-01-20T09:42:09+00:00

The CRO Forum keeps its finger on the pulse…

In addition to its commitment to the Solvency II project, the CRO Forum maintains its focus on the promotion of best risk management practices by unraveling potential threats to the industry.

The CRO Forum keeps its finger on the pulse… 2017-05-10T20:05:29+00:00

Solvency II Calibration

This document is a follow-up to our position paper published last May: ‘Calibration Principles for the Solvency II Standard Formula”. The paper provides our recommendation on the methodology to calibrate market risk correlation factors as well as a counterproposal for the correlation matrix as suggested by CEIOPS in its Consultation Paper n°74. The final chapter of this document also briefly addresses the correlations for non-market risk.

Solvency II Calibration 2017-05-10T20:05:29+00:00

Solvency II: all models all internal…but some

Under Solvency II, (re)insurance companies have the option to elect the Standard Model as defined under Solvency II or apply for approval to use Internal Models. Regulatory authorities have spent a lot of time and attention on the admissibility requirements for granting Internal Model approval.

Solvency II: all models all internal…but some 2017-05-10T20:05:29+00:00