Solvency II presentation by Claude Penland, Actuary

Solvency II: Are We There Yet? December 2010 presentation by Claude Penland, Associate of the Casualty Actuarial Society

What is Solvency II?
Solvency II is the updated set of regulatory requirements for insurance firms that operate in the European Union.
See Wikipedia at http://en.wikipedia.org/wiki/Solvency_II
More info at www.SolvencyDeux.com

Solvency II Side Effects, Part One
Insurers might need to outsource their asset management http://bit.ly/aeaqhy
Stock portfolios sold off http://bit.ly/cZ56br
Captives might need to be run off http://bit. ly /cYq7w4
Specialist employee costs are being jacked up http://bit. ly /9Mt0J0
Not enough regulators with experience http://bit. ly /a7i21O

Solvency II Side Effects, Part Two
International Financial Reporting Standards and Solvency II hit companies twice and from different angles http://bit.ly/9awkgy
Demand for bonds may be driven artificially high (and yields low) due to dumping of equities and buying of bonds http://bit.ly/bu3YM3
Cost overruns http://bit.ly/cr4tPt

Is Catastrophe Risk Appropriately Represented?
Mega Broker says no http://bit.ly/cHHoGz
Aon Benfield says no http://bit.ly/9Dbgt3
Perils says that’s a mighty big catastrophe that insurers are expected to be prepared for http://bit.ly/9UENg2

Solvency II Committees
Ironically, they say they must now simplify the plans they’ve charted.
Read more at http://www.claudepenland.com/2010/11/30/more-solvency-ii-hand-wringing-coming-out-of-european-mouths/

European Pensions
Pension Funds & Insurers disagree.
Pension Funds don’t want to be regulated by Solvency II.
Insurers say what is good for the goose is good for the gander.
Read more at http://www.claudepenland.com/2010/12/01/european-insurers-versus-european-pension-funds-who-will-win-the-solvency-ii-argument/

Final Points
Most recent Solvency II test results might be released in March 2011 http://bit.ly/aZZF3z
Japan, Switzerland and Bermuda are going through “equivalency tests” http://bit.ly/cnA5v1
Expect M&A http://bit.ly/ae75Yk
Expect Redomiciles http://bit.ly/bnhumt

Solvency II presentation by Claude Penland, Actuary

by CasualtyActuary on Dec 08, 2010

Accessibility

Categories

Tags

Upload Details

Usage Rights

2 Embeds 388

Statistics

Solvency II presentation by Claude Penland, Actuary — Presentation Transcript

http://www.claudepenland.com	387
http://translate.googleusercontent.com	1