Posts Tagged ‘Casualty’



April 27th, 2016

China’s Insurance Regulatory System

Posted at 1:00 AM ET

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

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April 26th, 2016

Emerging Risks: New Product Development

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Here we review recent GC Capital Ideas posts on new product development as an emerging risk.

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April 21st, 2016

Developing Awareness to Cyber Risk

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Here is a review of recent GC Capital Ideas posts on the developing awareness to cyber risk exposure and the impact that emerging risk can have on businesses.

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February 15th, 2016

Regulation; A World View: Conclusion

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The costs associated with compliance and disclosure will continue to rise as insurance regulators and rating agencies increase their scrutiny of the industry. (Re)insurers that operate on a global scale, for example, may wrestle with the complexity of multiple capital requirements and the return targets of investors. Smaller companies, often with fewer resources, may be forced to allocate a higher percentage of senior management’s time to compliance. It will become increasingly more important for (re)insurers to avoid unnecessary and redundant activity when seeking regulatory approval.

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February 10th, 2016

Meeting the Challenges: Rating Agency Advisory

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In realizing the goal of profitable growth, (re)insurers require a trusted partner to help them manage a rapidly evolving regulatory and rating agency environment.

Rating Agency Advisory

Ratings are a key indicator for many insurers and (re)insurance buyers. Amid evolving rating agency concerns and the complexity of enterprise risk management (ERM) requirements, Guy Carpenter Strategic Advisory provides clarity. We help clients take a proactive approach to enhance risk-adjusted capitalization, build up ERM, improve communications with rating agencies and optimize rating outcomes.

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February 9th, 2016

Meeting the Challenges: Regulatory Advisory

Posted at 1:00 AM ET

In realizing the goal of profitable growth, (re)insurers require a trusted partner to help them manage a rapidly evolving regulatory and rating agency environment.

Regulatory Advisory

The regulatory issues facing insurers and reinsurers today often require highly specialized expertise that may not be readily accessible to clients - from taking credit for reinsurance on financial statements to complying with regulatory requirements in contract wordings to shepherding new products through the approval process. Guy Carpenter Strategic Advisory℠ has a team of professionals whose deep expertise and knowledge can help companies navigate the regulatory realm.

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February 8th, 2016

Rating Agency Developments, Part II; Europe and Asia Pacific

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Europe

In anticipation of the January 2016 rollout, the European insurance industry focused squarely on Solvency II. Rating agencies refrained from instituting any new criteria.

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February 4th, 2016

Rating Agency Developments, Part I

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There is a great deal of overlap between the goals of government regulators and credit rating agencies. The difference, however, is in the output, with regulators providing a license to trade, or not, and the rating agencies offering a graduated scale of relative strength. Regulatory solvency approval can be viewed as a “qualifier” or minimum standard required to be considered by a customer. A credit rating, on the other hand, can act as a “winner” or differentiating factor that results in a successful sale.

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February 3rd, 2016

Solvency Regimes: Third-Country Equivalence

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Current capital requirements in the United States are set at a legal-entity level. Yet there are currently no global requirements for companies that operate in more than one country, and calculation formulas for capital requirements typically vary in each jurisdiction. Solvency II is the closest to mandating a group standard. Solvency II uses the concept of “equivalence” to deal with differing capital regimes between the European Union and the rest of the world including the United States, instead of forcing Solvency II standards on a third country.

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February 2nd, 2016

Addressing Own Risk and Solvency Assessment/Enterprise Risk Management and Insurance Capital Standard Globally

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In accordance with the objectives of the National Association of Insurance Commissioners (NAIC) and European Insurance and Occupational Pension Authority (EIOPA), Own Risk and Solvency Assessment (ORSA) is “people and risk-centric,” primarily employing a principles-based approach, as opposed to a rules-based approach. This means that decisions on matters related to risks are largely based on the judgment of individuals relying on underlying facts, as opposed to decisions being made mostly by following intricate sets of rules. This is similar to the principles-based approach taken by International Financial Reporting Standards (IFRS). Although the calculation of the Solvency Capital Requirements (SCR) under Solvency II is rules based, like Insurance Capital Standard (ICS), Solvency II can be a “one size fits all” rules-based approach to capital, especially if the standard formula is used. (Re)insurers will need to find a way to incorporate ICS into their ORSA processes and the vehicle to accomplish this may be through the internal model.

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