August 19th, 2009

Solvency II – Summary of CEIOPS March Consultation Papers: Technical Provisions – Lines of Business on the Basis of which (Re)insurance Obligations Are to Be Segmented

Posted at 1:00 AM ET

Financial Intelligence Team
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(Re)insurance companies segment their obligations into homogeneous risk groups when calculating technical provisions. CEIOPS recommends a minimum level of segmentation for technical provisions and will continue developing its advice on segmentation, particularly with regard to health insurance.

The recommendations differ between life and non-life and insurance and reinsurance.

Non-life insurance and proportional reinsurance:

Non-life, non-proportional treaty and facultative reinsurance:

  • Property
  • Casualty
  • Marine, aviation and transport

Life insurance and reinsurance:

  • Contracts with profit participation
  • Contracts where the policyholder bears the investment risk
  • Other contracts without profit participation
  • Accepted reinsurance

For life insurance and reinsurance, each category can be split further into:

  • Contracts where the main risk driver is death
  • Contracts where the main risk driver is survival
  • Contracts where the main risk driver is disability/morbidity
  • Savings contracts

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Contributors:

  • Susan Witcraft, Managing Director
  • Frank Achtert, Managing Director
  • Iain Boyer, Managing Director
  • Michelle Harnick, Managing Director
  • Dave Lightfoot, Managing Director
  • Scott Lohman, Managing Director
  • Don Mango, Managing Director
  • Eddy Vanbeneden, Managing Director
  • Jeff Bellmont, Senior Vice President
  • Gina Carlson, Senior Vice President
  • Debbie Griffin, Senior Vice President
  • David Flandro, Senior Vice President
  • Benoît Butel, Vice President
  • Sebastien Portmann, Vice President
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