In October and November 2011, the Economist Intelligence Unit, sponsored by BlackRock, surveyed 223 insurers with operations in Europe to find out how they were handling the data management requirements of Solvency II, the impact of capital charges on investment strategies and product ranges, and their views on the future for capital markets in a post-Solvency II world.
Respondents comprised of 75 life, 65 non-life, and 57 composite insurers, while 26 were reinsurance companies. Responses were collated from insurers with headquarters in all major EU countries.
Businesses were grouped by assets under management (AUM) covering 106 very large insurers with more than €25bn; 23 large insurers with €10bn-€25bn; 68 with €1bn-€10bn; and 26 with AUM of less than €1bn.
In addition, in-depth interviews were conducted with eight experts from insurance companies, regulators and trade bodies. Our thanks are due to the following for their time and insight (listed alphabetically):
Anders Brix, risk management team, Danica Pension, Denmark
Britta Burreau, managing director, Nordea Life, Sweden
Frank Eijsink, global program director for Solvency II, ING Life, Netherlands
David Johnston, senior implementation manager, Financial Services Authority, UK
Olav Jones, deputy director-general, CEA, European insurance and reinsurance federation
Isabella Mammerler, head of European regulatory affairs, Swiss Re
Carlos Montalvo, executive director, European Insurance and Occupational Pensions Authority (EIOPA)
Ann Muldoon, Solvency II director, Friends Life, UK
The report was written by Gill Wadsworth and edited by Monica Woodley of the Economist Intelligence Unit.