Europe Insurance Reinsurance News Trends Information, Claude Penland


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Europe Insurance Reinsurance News Trends Information, Claude Penland

  1. 1. 108 European Insurance and Reinsurance News Highlights, Trends 1. 40% of polled European insurers will not be ready for Solvency II by 2013 2. Covers Solvency II (European Insurance Regulations) 3. 8 Possible Side Effects to Solvency II European Insurance Regulation 4. European Insurance and Occupational Pensions Authority to Start Regulatory Training 5. 2010 Actuarial Awards Announced in Europe 6. Solvency II is a Compliance Cash Cow 7. Groupe Consultatif Actuariel Européen Explains Insurer Insolvencies vs. Bank Failures 8. Ireland Seeks to Introduce Islamic Finance Laws 9. European Insurers versus European Pension Funds: Who Will Win the Solvency II Argument? 10. More Solvency II Hand Wringing Coming out of Europe 11. European Union Bails Out Ireland for US$89 Billion #banks #bailout #financialcrisis 12. Atropos Insurance Linked Securities Fund to Launch in Luxembourg 13. ING US and European Insurance Units to IPO 14. Mega Broker Says Solvency II Could Be Catastrophic in Europe 15. UK’s International Underwriting Association Decries Dearth of Qualified Regulators 16. Majority of Island Capital and Island Capital (Europe) sold to Tawa
  2. 2. 17. Check Out the $51 Billion Windstorm Europe Will Need to Prepare For Under Solvency II 18. Does Solvency II Expect Insurers to Cover a $50 Billion European Catastrophe? 19. CEIOPS Might Publish Solvency II Test Results in March, 2011 20. European Pension Funds Say Nyet to Solvency II 21. Switzerland, Bermuda and Japan to Undergo Equivalency Reviews by the Solvency II Crew 22. Starr Underwriting Agents Ltd. enter France 23. Oliver Wyman and Morgan Stanley report on Solvency II’s Expected Effects 24. Liberty Syndicates Enters Weather Risk Market 25. CUNA Mutual Expects European Growth Partially Due to Solvency II 26. European Cyclone Model improved by AIR Worldwide 27. Aegon Threatens to Redomicile to Avoid Solvency II 28. Automated Data Flow Map released for Solvency II QIS5 Spreadsheet 29. Roughly 40% of World’s Wealth belongs to Americans; 30% belongs to Western Europeans 30. US, Bermuda and European Reinsurers divided on Business Strategies 31. European Union Approves Yet More Regulators. You’re Gonna Need a Bigger Boat. 32. What is the European Insurance and Pensions Committee? 33. What is the European Insurance and Occupational Pensions Authority?
  3. 3. 34. Chartis Europe CEO says Some Small Insurers Will Merge or be Acquired under Solvency II 35. What is the Committee of European Insurance & Occupational Pensions Supervisors? 36. Lloyd’s is concerned that 6 Managing Agents will have issues with Solvency II 37. Greenlight Capital Re enters Dublin, Ireland 38. Top Reinsurer Domicile: Who Will Win, Europe or Bermuda? 39. Solvency II Reforms will alter Europe’s Financial Institutions muchly 40. Hannover Re says to Solvency II: Bring It On. 41. The Death of Credit Raters due to Solvency II has been exaggerated. 42. European Wind Risk Model updated by AIR Worldwide 43. Risk Managers must also focus on corporate governance due to Solvency II 44. Milliman Report on the impact of Solvency II on the European Life Insurance market 45. Novae Re enters credit and surety reinsurance businesses 46. Insurance IT Outsourcing: Additional Top Markets 47. XL Re’s CFO says Solvency II may bring M&A, domicile change and reorganizations 48. Vanbreda International sold to CIGNA 49. European Windstorms: Aon Benfield and University of Cologne to study them 50. Twelve Capital launched, Insurance-Linked Securities investment firm. 51. Defined Benefit Pensions: How will Solvency II affect them?
  4. 4. 52. Private Equity investors need to think about Solvency II 53. Asset-backed Annuities to grow under Solvency II 54. European Commission’s 5th Quantitative Impact Study is underway 55. European CFOs want fair and balanced Solvency II capital rules 56. The C-Level Actuary: How Did Actuaries Get Beyond Their Actuarial Jobs? 57. The British Spend $20+ Million Annually Repairing their Homes After Parties 58. Oslo Reinsurance Company (UK) Limited sold to Tawa 59. Will the CERA become the “gold standard” for risk management? 60. Executive’s Guide to Solvency II by Jason Wahl, David Buckham, Stuart Rose 61. Does Solvency II Introduce Systemic Risk? 62. Life Expectancy Increases Are Messing With Pensions 63. Tertiary Portfolio Advisors Launched 64. Solvency II Ignores Catastrophe Modeling Advances, Says Aon Benfield 65. United Kingdom Organizations Start Solvency II Pre-Application Process 66. Do You Need a Solvency II To-Do Checklist? Northdoor Has One. 67. Mercer Plans to Grow in Belfast, Northern Ireland with 45 New Jobs 68. UK Auto Insurance Losses Increasing Bunches and Bunches 69. Annuity Rates are Declining Due to Solvency II Costs Being Factored In 70. Aegon closes third-party pension admin and benefits software businesses in UK 71. “Pirate Attacks Make Risk Estimation Difficult”, say UK Actuaries
  5. 5. 72. PwC and Ernst & Young Under Investigation in UK over JP Morgan and Lehman 73. Could Sea Levels in the United Kingdom Rise by 1 Foot by 2050? 74. Fortis Life Insurance Ukraine sold to Horizon Capital 75. Aston Business School looks at the convergence in approaches by Bermuda & Lloyd’s firms 76. Don’t Hire New Solvency II Employees. Train Your Existing Employees. 77. Don’t Use A Standard Formula to Set Capital Requirements under Solvency II, says Fortis CRO 78. UK Actuaries funding Enterprise Risk Management Projects 79. UK Charities with compulsory pension enrollment might have problems 80. Chinese Investors Considering Prudential PLC (UK) takeover 81. Demand for Longevity Insurance to increase: Swiss Re says big risk. 82. Criminal Reduction Utilizing Statistical History, UK & USA Predictive Analytics 83. Emerging Risk in Life Insurance, A New Approach for Actuaries 84. Actuarial Mottos: Are You Good at Writing Them? How About Theme Songs? 85. Hot Cheese: Swiss Re shareholders might shoot it at Chairman 86. How much will Solvency II cost? 87. Solvency II will increase compensation 88. Asset-backed Annuities to grow under Solvency II 89. Lloyd’s Managing Agents hire 126 actuaries. Solvency II a major reason.
  6. 6. 90. R&Q Commercial Risk Services Ltd. Launched 91. Credit Insurer, Equinox Global, Launched in London 92. Solvency II Will Drive Bond Yields Lower Due to Increased Bond Investment Demand 93. Rasini Viganò brokerage firm sold to Aon 94. TigerRisk reinsurance brokerage might enter London 95. United Kingdom Insurance Companies Ready for Regulatory Uncertainty 96. Marine, Aviation and Transport Insurers must raise rates due to Solvency II 97. Government-issued longevity bonds as an insurance trend to watch 98. Admiral Group to Launch Direct Insurance Operation in France 99. Starr Underwriting Agents Ltd. enter France 100. Insurance Company IT Performance Suffering due to Comparison Websites 101. CIGNA to write health insurance in Spain 102. Germany is on the Cutting Edge of Liability-Driven Investment 103. Lloyd’s Enters Russia 104. Accenture to Create 100 Predictive Analytics Jobs in Ireland 105. Solvency II expected to create 250+ actuarial jobs in Ireland 106. 123 Money (Ireland) sold to RSA Insurance Group 107. Dublin broker sold to Aon 108. Irish Life is looking at making acquisitions