Guy Carpenter & Company, LLC sponsored this extended roundtable discussion that considered the progress made by (re)insurance as the Solvency II regime approaches. Held in London, it was attended by a number of UK and continental Europe industry leaders, including Guy Carpenter Managing Director and European Solutions Group Leader Eric Paire. We present the text of the roundtable discussion here as it appeared in Reinsurance Magazine.
Ant Gould - Group Editor-in-Chief (Insurance), Incisive Media
Ben Carr - Head of Financial Insurance Risk, Financial Services Authority
David Russell - Director, Risk and Governance, Barbican
Gary Wells - Principal and Consulting Actuary, Milliman
Peter Tavner - Deputy Group Actuary, Amlin
Eric Paire - Managing Director and European Solutions Group Leader, Guy Carpenter
Rob Jones - Managing Director and European Insurance Criteria Officer, Standard & Poor’s
Nick Lowe - Director of Government Affairs, International Underwriting Association
Jason Doughty - Actuary and Solvency II Project Manager, Hiscox
Editor-in-Chief Ant Gould opened the discussion:
“Solvency II in my mind is something that has been with us for years but we are still not there. It has been a long time coming. I had a quick look at our website to see when I first wrote something about this, it was about eight years ago with a KPMG study, which was expected to form the basis of the European Commission’s drive towards a new solvency regime known as Solvency II. I would say since then that much has changed and also much has not.”
Statements concerning accounting, legal, regulatory or tax matters should be understood to be general observations based solely on the author’s experience in the reinsurance industry, and may not be relied upon as accounting, legal, regulatory or tax advice which he is not authorized to provide. All such matters should be reviewed with your own qualified advisors in these areas.