The European Union may be forced to put back the January 2014 start date for its Solvency II capital regime for insurers after talks to agree a final draft of the strict new rules collapsed, Europe’s top insurance sector lobby …
The European Insurance and Occupational Pensions Authority (EIOPA) has published its Final Report on draft Guidelines for Own Risk and Solvency Assessment (ORSA), which “underlines the purposes of the ORSA,” and provides “additional details on how the guidelines are to …
The UK’s Financial Services Authority (FSA) is reviewing how wholesale markets are supervised following the interest rate-setting scandal, its chairman Adair Turner said on Tuesday. “There are no free lunches, and shoddy wholesale practice is not a victimless act, even …
Otto Thoresen, the Director General of the Association of British Insurers, issued a positive comment on the announced plan by UK Business Secretary Dr. Vince Cable to regulate payments to company executives. The proposed measures include giving shareholders binding votes …
“Over the next 18 months it’s estimated that Ireland will spend 100 million euros (app. $125 million) on preparations for Solvency II (SII),” said Garvan O’Neill, a partner in PricewaterhouseCoopers’ financial services practice, who headed a panel discussion on the …
Global management consulting, technology services and outsourcing company Accenture announced that it will team with SAS Institute “to implement the SAS Risk Management for Insurance solution group-wide at Folksam, one of Sweden’s largest insurers, to help comply with the Solvency …
Despite delays and complaints the European Union’s Solvency II regulations, which cover the insurance industry, are slowly but surely moving forward. While most of the industry is primarily concerned with the regulations governing capital requirements – Solvency II’s “Pillar I,” …
Hector Sants, the chief executive of the UK’s Financial Services Authority (FSA), has announced his intention to leave the organization at the end of June 2012. He indicated that, as the “fundamental design and delivery of the changes needed to …
The Association of British Insurers (ABI) has issued a call “for action to free businesses from the fear of the UK’s compensation culture and overzealous interpretations of health and safety rules that could hold back Britain’s economic recovery.” Insurers and …
Otto Thoresen, Director General of the Association of British Insurers, has called for European Union policy makers to ensure that draft EU Solvency II rules do not prohibit insurers from driving growth in the UK and making long term investments …
