Posts Tagged ‘C-ROSS’



September 13th, 2018

Managing Catastrophe Model Change

Posted at 1:00 AM ET

powers_imelda_71x88Imelda Powers, Senior Cat Management Advisor, Asia Pacific, Global Strategic Advisory

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Incorporating new hazard and claims insights can improve the estimates derived from catastrophe models. By re-analyzing historical events using the latest scientific methods or refining claims with more granular geographical and line of business breakdowns, we can update models with the latest expertise and data. But model changes that yield large swings in loss estimates for frequent events must be carefully scrutinized to understand assumptions and processes in order to truly support ownership of risk. Continue reading…

April 27th, 2016

China’s Insurance Regulatory System

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Here we review recent GC Capital Ideas posts on developments in China’s insurance regulatory system. 

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January 21st, 2016

China Risk Oriented Solvency System (C-ROSS)

Posted at 1:00 AM ET

The China Insurance Regulatory Commission (CIRC) is instituting sweeping changes through its three-tiered China Risk Oriented Solvency System (C-ROSS) framework that will dramatically impact how (re)insurers conduct business. It will strengthen capital requirements, risk management and transparency disclosures - bringing China in line with, and in some cases overtaking, global standards. The C-ROSS framework is similar to Solvency II: three tiers focusing on quantitative, qualitative and disclosure requirements.

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January 19th, 2016

Developments in Asia Pacific: Overview, Part I

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Asia Pacific is a diverse mix of countries encompassing nearly one-third of the earth’s landmass and more than one half of its population. Given the broad spectrum of economic and regulatory sophistication across the region, the approach to insurance regulation has varied on a country-by-country basis as each regime adapts solvency principles to their own needs and political realities.

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December 23rd, 2015

Update on China Counterparty Risk Charges for Offshore Reinsurers: Part II

Posted at 1:00 AM ET

eva-zheng-sm1001graham-jones-951Eva Zheng and Graham Jones

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It is anticipated that the China Insurance Regulatory Commission (CIRC) will recognize cash deposits (including premiums withheld), letters of credit (LOC) and certain other forms of collateral. LOCs must be issued by domestic banks with a capital adequacy ratio of no less than 11 percent or by overseas financial institutions with credit ratings equal to or higher than AA-. Cedents will be required to report and re-value their counterparty risk on a quarterly basis and adjust collateral positions accordingly.

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December 22nd, 2015

Update on China Counterparty Risk Charges for Offshore Reinsurers: Part I

Posted at 1:00 AM ET

eva-zheng-sm100graham-jones-95Eva Zheng and Graham Jones

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China’s developing insurance market is a potential bright spot for growth in an otherwise challenging landscape for global reinsurers. Driven by a maturing economy and expected increases in household penetration ratios, property/casualty insurance premium, totaling USD 121.6 billion in 2014 (1), is projected to increase to roughly USD 300 billion by 2030 (2).  

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