According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda (re)insurers remain below the new sovereign rating, which also has a …
The EU’s Solvency II regulations get most of the headlines, but there are other regulatory bodies, which are trying to modernize and harmonize the regulations for global insurance companies. Their task has been made even more difficult by the prolonged …
“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 …
The American Insurance Association has issued a statement, which points out several instances of a “disconnect between the continued significant global insurance capacity and a strong demand for insurance products that is often created by protectionist barriers in emerging markets.” …
Willis Re, the reinsurance arm of Willis Group Holdings, has released a report discussing the challenges and opportunities offered to mutual insurers through diversification, subtitled “Navigating the Pitfalls in Pursuit of Successful Diversification.” Willis Re said it “examines, through discussion …
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,” …
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 …
Amidst all the turmoil in the euro zone, the implementation of the Solvency II regulations, governing the 27 members of the European Union, including the UK, grinds inexorably forward. It is a fact of life for British insurers, and their …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., announced that it has updated its UK terrorism catastrophe model, which now “estimates the financial loss to life insurers from potential terrorist events and helps to satisfy the …
