Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced the launch of version 6 of ReMetrica – its dynamic financial analysis tool. The bulletin said it would “reduce model size by up to 95 percent, when …
A new report on the Lloyd’s insurance market by Guy Carpenter & Co. finds that “Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns, record catastrophe losses, subdued economic growth in developed markets and …
The European Union may be forced to put back the January 2014 start date for its Solvency II capital regime for insurers after talks to agree a final draft of the strict new rules collapsed, Europe’s top insurance sector lobby …
The European Insurance and Occupational Pensions Authority (EIOPA) has published its Final Report on draft Guidelines for Own Risk and Solvency Assessment (ORSA), which “underlines the purposes of the ORSA,” and provides “additional details on how the guidelines are to …
According to Fitch Ratings, “while insurance industry concerns factored into Tuesday’s downgrade of Bermuda,” it does not expect Bermuda (re)insurers to be affected, “as all our ratings of Bermuda (re)insurers remain below the new sovereign rating, which also has a …
The EU’s Solvency II regulations get most of the headlines, but there are other regulatory bodies, which are trying to modernize and harmonize the regulations for global insurance companies. Their task has been made even more difficult by the prolonged …
“Over the next 18 months it’s estimated that Ireland will spend 100 million euros (app. $125 million) on preparations for Solvency II (SII),” said Garvan O’Neill, a partner in PricewaterhouseCoopers’ financial services practice, who headed a panel discussion on the …
The American Insurance Association has issued a statement, which points out several instances of a “disconnect between the continued significant global insurance capacity and a strong demand for insurance products that is often created by protectionist barriers in emerging markets.” …
Willis Re, the reinsurance arm of Willis Group Holdings, has released a report discussing the challenges and opportunities offered to mutual insurers through diversification, subtitled “Navigating the Pitfalls in Pursuit of Successful Diversification.” Willis Re said it “examines, through discussion …
Global management consulting, technology services and outsourcing company Accenture announced that it will team with SAS Institute “to implement the SAS Risk Management for Insurance solution group-wide at Folksam, one of Sweden’s largest insurers, to help comply with the Solvency …
