New study shows how fund managers can boost their assets under management

0 comments

Posted on 12th February 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , , , , , ,

In addition, the report says, a new subset of the asset management industry will appear which will attract the lion’s share of the trillions of pounds worth of European insurance funds under model-housemanagement.

Far from being just an imposition on the insurance industry, the new regulations, which require insurers to identify and list out underlying holdings, are as much of a burden on the asset managers who look after money for insurance groups. However, the regulations, which come into effect on 1 January 2016, also open up a significant opportunity to build assets. Insurers have to be able to look though fund holdings to detail their underlying investments, a task that only the asset manager can do on their behalf.

The study, which was completed following discussions with hundreds of insurers and asset management groups, shows that insurers are likely to be attracted to those asset managers who have established processes in place already and who are prepared and best able to meet these new requirements.

Continue Reading “New study shows how fund managers can boost their assets under management” at Automated Trader News

Principles for Responsible Investment: Investors Must Commit to Engaging Policymakers

0 comments

Posted on 6th February 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , , , , , , , ,

The recent mobilisation by institutional investors over the climate change issue has captured media attention around the globe, clearly demonstrating the power scales_of_justice2-260x300investors have when it comes to engaging policymakers.

While investor engagement with policymakers is not new, what has changed over the past decade is the emergence of responsible investors seeking policy change that promote sustainable value creation.

This goal dovetails with the needs and interests of policymakers who are interested in long-term economic growth, competitiveness, job creation, environmental protection, and social stability.

Continue Reading “Principles for Responsible Investment: Investors Must Commit to Engaging Policymakers” at CFI News

Eiopa Reconsiders Solvency II Infrastructure Investments Charge

0 comments

Posted on 5th February 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , , , , , , ,

The European Insurance and Occupational Pensions Authority (Eiopa) has announced that it has started a new consultation project that will look into the treatment of infrastructure investments561736-1402980720-wide by insurers as a part of the Solvency II framework.

Eiopa said that the focus on this area followed on from its previous work on the regulatory treatment of long-term investments and that it now wants to analyse infrastructure investments on a more granular level.

Continue Reading “Eiopa Reconsiders Solvency II Infrastructure Investments Charge” at Insurance Asset Risk News

Final Countdown to Solvency II

0 comments

Posted on 5th February 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , , ,

In the remaining year before Solvency II comes into effect, Neil Cantle explains how to prepare for the Own Risk and Solvency Assessment part of the new regulatoryThrowbacks 025nerwwebsmall regime.

While investor engagement with policymakers is not new, what has changed over the past decade is the emergence of responsible investors seeking policy change that promote sustainable value creation.

This goal dovetails with the needs and interests of policymakers who are interested in long-term economic growth, competitiveness, job creation, environmental protection, and social stability.

In a report published earlier this month, the United Nations-supported Principles for Responsible Investment (PRI) examined the case for long-term investors to engage public policymakers. For some the case is already clear, but for most, it’s not.

Continue Reading “Final Countdown to Solvency II” at The Actuary News

Will 2015 Be the Year of Sleepless Nights for Global Insurers?

0 comments

Posted on 30th January 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , , , , , , , , , , ,

A new survey suggests insurance execs have a number of concerns about how their industry will fare in 2015Flaming_June,_by_Frederic_Lord_Leighton_(1830-1896)

According to a January report from research firm Towers Watson, titled ” Will 2015 Be the Year of Sleepless
Nights for Global Insurers?”
2,015 is likely to be a year of change for the insurance industry, and that’s led insurance industry executives to have concerns about several issues.

Of note, Towers Watson’s 2015 Insurance Industry Outlook survey included 365 respondents from both life and non-life insurance companies worldwide. The survey was undertaken from October 27 through November 14 of 2014.

The discussion below is excerpted a panel discussion of Towers Watson insurance industry experts.

Continue Reading “Will 2015 Be the Year of Sleepless Nights for Global Insurers?” at ValueWalk News

Solvency II will not raise capital requirements across the board, says PRA

0 comments

Posted on 29th January 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , ,

Paul Fisher, executive director at the PRA, said the UK insurance industry was in a “good position”, adding: “We are therefore not looking to use Solvency II as an opportunity to raise capital cointowersrequirements across the board.”

Speaking at a conference on the future of the UK insurance sector, organised by the Westminster Business Forum, Fisher said the directive would introduce “greater transparency, a level playing field through greater EU-wide co-operation, greater co-operation arrangements between European regulators, transformed data collection and analytics, a greater emphasis on high-quality governance and, above all, a more risk-sensitive regulatory framework”.
Continue reading “Solvency II will not raise capital requirements across the board, says PRA” at The Actuary News

KPMG Welcomes Solvency II Clarifications

0 comments

Posted on 28th January 2015 by Solvency 2 News in Europe |UK

, , , , , , , , , ,

PRA consultation paper provides important clarification regarding starting point for life insurance contracts transitional measures.mat

The latest Solvency II consultation paper released by the Prudential Regulatory Authority (PRA) adds important clarifications, particularly for UK life insurers.

The paper mainly relates to the transitional measures on risk-free rates and technical provisions, which is an important area for UK life insurers.

The paper adds some important clarifications regarding the calculation and sets out the process that firms would need to follow to apply to apply for these transitional measures.

Continue Reading “KPMG Welcomes Solvency II Clarifications” at The Csuite News

UK will not ‘gold plate’ Solvency II capital requirements for insurers, says PRA

0 comments

Posted on 28th January 2015 by Solvency 2 News in Europe |UK

, , , , , , , , ,

The UK insurers will not be subject to capital requirements that go beyond those set out in the new EU-wide regulatory regime which is due to come into force next year, the acting head of the regulator has said.beadedgoldl

Speaking at an event in London Paul Fisher, acting executive director for insurance supervision at the Prudential Regulation Authority (PRA), told insurers that the regulator did not intend to use the incoming Solvency II regime as “an opportunity to raise capital requirements across the board”.

“The PRA believes the UK industry is in a good position, having had the UK risk-based ICAS regime for around 10 years,” he said.

Continue Reading “UK will not ‘gold plate’ Solvency II capital requirements for insurers, says PRA” at Out-Law News

Fitch: Market Conditions Pushing Bermuda Consolidation Pressure

0 comments

Posted on 27th January 2015 by Solvency 2 News in Bermuda

, , , , , , , , , , ,

HICAGO, Jan 27, 2015 (BUSINESS WIRE) — According to a new Fitch Ratings report, the Bermuda market is seeing increased consolidation activity in 2015, as several companies have recently jumped into the merger and 7350248744_393205c6b4_bacquisition (M&A) forum to combat the competitive stress in the (re)insurance market.

These Bermuda deals include PartnerRe Ltd.’s recently announced merger with AXIS Capital Holdings Ltd., XL Group plc’s expected acquisition of Catlin Group Limited, and RenaissanceRe Holdings Ltd.’s agreement to acquire Platinum Underwriters Holdings Ltd. This trend is driven by challenging market conditions that are limiting organic growth potential. Record capitalization among traditional (re)insurers along with the growing capacity provided by alternative capital providers are softening reinsurance pricing, with no catalyst for a reversal in sight.

Continue Reading ” Fitch: Market Conditions Pushing Bermuda Consolidation Pressure ” at Market Watch

Zurich Insurance implements Europe-wide BearingPoint Solvency II reporting solution

0 comments

Posted on 23rd January 2015 by Solvency 2 News in Europe

, , , , , , , ,

Management and technology consultancy BearingPoint announced the signing of a contract with Zurich Insurance Group for the implementation and use of BearingPoint’s ABACUS/Solvency II reporting solution for 252010-kodiak-bear-1 affiliates.

This standard software package enables comprehensive regulatory reporting in accordance with the new Solvency II requirements in the EU.

It is built on BearingPoint’s ABACUS solution suite that is widely used in European countries to address Basel III, EMIR and further regulations. ABACUS/Solvency II comprises data collection, validation, preparation and Solvency II supervisory reporting.

Continue Reading “Zurich Insurance implements Europe-wide BearingPoint Solvency II reporting solution” at IBR Technology