As business becomes more globalized, the financial services industry, including insurance, has recognized the need to keep up with the changing times. Both U.S and European Union regulators have therefore embarked on several initiatives requiring mutual discussion and cooperation, as …
A bumper equity issue from Aegon and a disappointing dividend from Allianz stirred fresh fears about European insurers’ capital strength on Thursday, weighing on their shares. The capital-boosting measures by Allianz and Aegon suggest the industry is worried Europe’s Solvency …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation, is calling for a “simplified Internal Model Approval Process (IMAP) for natural catastrophe risk that would encourage insurers to better quantify these exposures under Solvency II.” Aon noted …
The UK’s Conservative government recently announced the long awaited regulatory reform proposals for financial services, covering both banks and insurers. They are far reaching, and will require changes in the way the UK’s insurance industry is regulated. As a result …
The Commerce and Employment Department of the States of Guernsey (the Guernsey Government) and the financial regulator, the Guernsey Financial Services Commission (GFSC) have released a joint statement, which affirms that “there are no plans for the Island to seek …
