Guy Carpenter & Company released the report Succeeding Under Solvency II - A Guide to the New Industry Landscape, the newest update in the firm’s series on Solvency II preparedness.
The report begins with an in-depth review of the likely impact of Solvency II on the reinsurance market, focusing on its benefits and drawbacks. Additionally, the report provides a detailed analysis of the impact of Solvency II at the company level, including cost considerations, challenges and opportunities.
The report also takes a close look at one of the critical components of the new Solvency II capital requirement - assessing and managing counterparty risk. The next section examines the current debate over the timeframe for transitioning to Solvency II, followed by a comprehensive reference guide to the three main pillars of the Solvency II legislation.
David Lightfoot, Head of GC Analytics - International, stated, “This report provides a comprehensive examination of the game-changing Solvency II legislation, as well as an in-depth analysis of what its various components are likely to mean to the industry. It offers specific and practical advice on how to prepare for the new regime - and position themselves for success once it goes into effect.”
“Solvency II has been a decade in the making, yet many elements of it remain fluid. The final form of the legislation, including how and when it will be rolled out, has yet to be solidified. We are in constant contact with regulators and clients alike about all aspects of Solvency II, and we will continue to communicate new developments as they emerge.”
*Securities or investments, as applicable, are offered in the United States through GC Securities, a division of MMC Securities Corp., a US registered broker-dealer and member FINRA/SIPC. Main Office: 1166 Avenue of the Americas, New York, NY 10036. Phone: (212) 345-5000. Securities or investments, as applicable, are offered in the European Union by GC Securities, a division of MMC Securities (Europe) Ltd., which is authorized and regulated by the Financial Services Authority. Reinsurance products are placed through qualified affiliates of Guy Carpenter & Company, LLC. MMC Securities Corp., MMC Securities (Europe) Ltd. and Guy Carpenter & Company, LLC are affiliates owned by Marsh & McLennan Companies. This communication is not intended as an offer to sell or a solicitation of any offer to buy any security, financial instrument, reinsurance or insurance product.