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Solvency II

Europe, Legal, Regulation, Solvency II

Omnibus drives forward with key vote

Omnibus II, a key enabler of the plans for European re/insurance regulation under Solvency II has passed a major hurdle today with a yes vote from the European Commissioner.

Europe, Regulation, Solvency II

Van Hulle affirms 2014 date for Solvency II

The man charged with delivering the Solvency II regime across Europe has said there is no time to waste for its implementation.

Europe, Regulation, Solvency II, Underwriting

European regulators told to deliver level playing field

The UK’s Secretary to the Treasury has said the new European super regulator must deliver a “consistent” regulatory regime across the single market post the adoption of Solvency II.

Europe, Liability, Marine, Monte Carlo, Risk Management, Solvency II

Liability issues will tax reinsurers

Ratings agency Standard & Poor’s says the threat of a huge leap in the liability for pollution spills is the biggest threat to the appetite for reinsurers to offer capacity to the marine and energy market.

Europe, Regulation, Regulation, Risk Management, Solvency II

Solvency plea as EU lays out detailed plans

European re/insurers are faced with a summer of regulatory discontent after the Committee of European Insurance Supervisors (CEIOPS) published 23 consultation papers addressing several areas of detail that were left open in the Framework Directive, which was approved in May of this year.

Europe, Regulation, Solvency II

Solvency II now vital issue for insurers says Munich Re

A senior member of the Board of Management at Munich Re has warned insurers that the advent of Solvency II will demand a constant reevaluation of their capital strength.

Europe, Ratings, Regulation, Renewals, Solvency II

Capital fears still blight reinsurers’ outlook say Fitch

As reinsurers head for Monte Carlo rating firm Fitch says the sector’s underwriters are still viewed on a negative outlook amid fears over the impact of a major catastrophe. 

London, Regulation, Solvency II

IUA chairman warns of regulatory backlash

The London market has been warned that it faces the threat of a renewed wave of regulation as the fallout from the collapse of the global financial services markets continues.

Catastrophe, Europe, Losses, Risk Management, Solvency II

Debates over Solvency II catastrophe models

With less then two years to go before the planned implementation calls have been made for the European Commission which is master minding Solvency II to  create a more streamlined process for the international models.

Catastrophe, Europe, Regulation, Solvency II

Guy Carp offers Solvency II success plan

Broker Guy Carpenter has warned that the impact of Solvency II cannot be seen to be restricted to those insurers operating within the European Union.

Market Reform, North America, Regulation, Solvency II

New Bill seeks Federal Reinsurance License

There are growing hopes that a new bill which would create a federal licence for reinsurers in the United States will gather support after it was proposed by Kansas Democrat Congressman Dennis Moore.

Bermuda, Lloyd's, Regulation, Regulation, Risk Management, Solvency II

Insurance boss calls for market to take a stake in industry’s fight to tame regulatory excess

XL Group Chief Executive Michael McGavick has warned the global re/insurance market it faces a major threat from rampant regulatory change and warned “we have yet to kill the vampire”.

London, Mergers & Acquisitions, Regulation, Run Off, Solvency II

KPMG welcomes run off rules

As the debate continues over the timeline for implementation of Solvency II consultancy firms KPMG has said the run-off sector should be pleased with new concessions in the scheme

Captives, Europe, Ratings, Regulation, Solvency II

Solvency II will challenge captives says rating firm

A M Best has issued a new report in the impact of Solvency II on the captive market and said it believed that that owners will look to pump more capital into the captives when solvency Ii is implemented in18 months.

Capital Markets, Europe, Financial Institutions, Solvency II

Swiss Re pay back loan and announce corporate restructure

Swiss Re’s chief executive Stefan Lippe has said the reinsurer has drawn a line under its past as it released its 2010 results announced a new corporate structure and that it had repaid its loan to Berkshire Hathaway.

 

Mr Lippe said the underwriter has enjoyed a strong 1/1 renewal off the back of its ability to deliver tailor made solutions to major cedents a message which was similar to its European rival Munich Re.

Europe, Losses, Regulation, Solvency II

CEIOPS warns of tough conditions in Europe

In what was almost its last act before it was replaced by the European Insurance and Occupational Pensions Authority (EIOPA, the Committee of European Insurance and Occupational Pensions Supervisors (CEIOPS), warned reinsurers face a number of challenges in the coming year on the back of falling rating levels and the highest level of insured losses in a decade

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