Living with Solvency II; A Top Regulator Gives His Views
Solvency II, the European Union’s imminent imposition of new and more sophisticated risk based regulation of its insurers, may not be the only elephant in the room It is, however the main focus of a...
View ArticleNeed for Global Insurance Standards Driven by Financial Crisis, Solvency II
While the European Union is primarily focused on the approach of the Solvency II regulations in 2013, there are two additional regulatory bodies who are also considering some new rules that will affect...
View ArticleIAIS Study Indicates Big Insurers May Not Face Same Capital Rules as Banks
Insurance companies judged too big to fail are likely to face different rules than their banking counterparts, who were told this week that they will be subject capital surcharges, insurance industry...
View ArticleIAIS Calls for Greater Scrutiny over Non-traditional Insurance
Regulators should focus on insurers’ role in markets outside their traditional sphere, as such activities could worsen the economic impact of companies in the sector going bust, the International...
View ArticlePCI Applauds Global Regulators’ Expanded Timeline for G-SII Rules
The International Association of Insurance Supervisors (IAIS) announced that its timetable with the Financial Stability Board (FSB) to develop a means to identify “global systemically important...
View ArticleAIA Comments on Latest IAIS Draft Rules on Global Insurance Supervision
The American Insurance Association has submitted comments in response to the International Association of Insurance Supervisors’ (IAIS) July 2, 2012 Public Consultation Document entitled “Working Draft...
View ArticleGlobal Federation of Insurance Associations Launched
Thirty-one of the world’s most important insurance associations, who represent 87 per cent of worldwide insurance business, formally established the Global Federation of Insurance Associations (GFIA)...
View ArticleInsurers Should Face Capital Charge on Risky, Non-Core Activities: Regulators
Insurers involved in risky activities outside their core business, such as derivatives trading, should hold extra capital to limit the danger they might destabilize the financial system if they go...
View ArticleIAIS’ International Capital Standards Have Ambitious Timeline: A.M. Best
Given the potential wide-reaching impacts on pricing, products, investment strategies and the cost of capital, A.M. Best doubts that the ambitious timeline can be met to develop and implement...
View ArticleGlobal Insurance Regulators Postpone Tougher Capital Standards
Global insurance regulators will take more time than previously planned to address industry concerns before applying tougher capital rules to some of the largest companies they oversee. Capital rules...
View ArticleToo-Big-to-Fail Insurers Face 10% Hike to Capital Requirements: Int’l Regulators
Global insurers with the greatest ties to the financial system would face an average increase of 10 percent to capital requirements under new standards proposed by a group of regulators. The increase...
View ArticleAegon, Transamerica’s Owner, Added to FSB’s List of 9 Too-Big-to-Fail Insurers
Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali...
View ArticleInclusion on List of Too-Big-to-Fail Insurers May Alter Business Strategy: Fitch
A change to the list of globally systemically important insurers (G-SIIs) suggests the potential for being added to or removed from the list could play a significant role in setting strategy for some...
View ArticleTennessee Joins International Information Exchange Agreement
The Tennessee Department of Commerce and Insurance (TDCI) has joined the Multilateral Memorandum of Understanding (MMoU), an international supervisory cooperation and information exchange agreement....
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