"Risk and regulatory hot topics" series :
Solvency II
| Date : | This event took place on 29th July 2010 |
“Risk and regulatory hot topics” webinar series is a series of monthly webinars that provide expert comment on the most relevant topical issues in the industry..
This month we focused on Solvency II, a fundamental review of the capital adequacy regime for the European insurance industry.
It aims to establish a revised set of EU-wide capital requirements and risk management standards covering over 30 countries, which represents the biggest ever exercise in establishing a single set of rules for the European insurance industry.
The regulators' Solvency II proposal has been intentionally developed to go deeper than just a financial calculation of solvency; there is an equal emphasis on the building of a company's own risk management and governance strategy and with an updated set of regulatory requirements for insurance companies that operate in the EU, due to be implemented in October 2012, which replaces the current Solvency I requirements that have seen little change in over 30 years.
In this hour long webinar FRSGlobal’s CoR2Experts, Ioannis Akkizidis and Werner Hürlimann, discussed the latest issues being faced by and the impact of implementing the Solvency II directive will have on insurance companies today.
Topics included -
- Total balance sheet approach (ALM)
- Capital requirements (MCR, SCR and the III Pillars)
- Internal models versus standard approach
- Risk measurement (Market Risk, Credit Risk, Insurance Risk (Life, Non-Life, Reinsurance))
- Insurance contracts (Life, Non-Life, Reinsurance)
Visit FRSGlobal’s Solvency II library to download whitepapers, comment pieces and datasheets or find out more about our solution.
Note
Attendees automatically receive a summary of the webinar, complete with results of on-line polls and questions submitted during the Q&A session, the PowerPoint slides used during the presentation, and a link to a recording of the webinar.
Speaker
Ioannis Akkizidis - Senior Financial Risk Analyst at FRSGlobal. He is also a visiting lecturer at Universität Zürich, bringing financial systems’ analysis and applications to academia. He has written various books and papers on risk management and financial analysis.
Speaker
Werner Hürlimann - senior consultant for the insurance business sector at FRSGlobal.
Werner has established himself as a subject matter expert in risk management and solvency and has been writing mathematical specifications for life insurance, non-life insurance and reinsurance.
Ioannis Akkizidis & Werner Hürlimann have contributed to this detailed examination of the main requirements and impacts of Solvency II to insurers and reinsurers.
