Britain’s plans to change capital requirement rules for insurers following its departure from the European Union are about tailoring them to local conditions rather than any “gratuitous deregulatory agenda,” its financial services minister said. Britain inherited the Solvency II insurance …
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill for COVID-19 claims. Britain …
The European Union’s capital rules for insurers need changing to reflect low interest rates and provide stronger intervention powers like banning dividends to preserve solvency during market shocks, the bloc’s insurance watchdog said on Thursday. The EU is reviewing its …
Assicurazioni Generali SpA announced the closing of the sale of its entire stake in Generali Belgium SA to Athora Holding Ltd. for approximately €540 million ($618.9 million). The deal was first announced on April 18, 2018. The company will be …
Randall & Quilter Investment Holdings Ltd. (R&Q) announced it has entered into an agreement to acquire Western Captive Insurance Company Designated Activity Company (WCIC) from the Coffey Group of companies in Ireland. WCIC is Coffey’s Irish-domiciled captive insurance company. The …
Italy’s Generali has agreed to sell its Belgian operations to Athora Holding Ltd. for approximately €540 million ($668.3 million) in cash. The transaction is expected to close in the second half of 2018, subject to regulatory approvals. Generali Belgium S.A. …
The Bank of England will not “go soft” on enforcing European Union capital rules for insurers, but will look at ways to make it easier for new entrants to boost competition in the industry, its deputy governor Sam Woods said …
Willis Towers Watson has launched Igloo 5, an update to its financial modeling platform. The broker said Igloo 5 brings a number of key improvements including: Greatly improved model runtime Ready for use-based licensing and full implementation in the cloud …
Efforts to get insurers to plug Europe’s investment gap by backing riskier assets could be undermined if banks are unwilling to share crucial credit data with them, a European Union insurance regulator said. EU insurance capital rules known as Solvency …
The four largest European reinsurers – Munich Re, Swiss Re, Hannover Re and SCOR – have largely maintained pricing and policy terms without a significant drop in their business volumes, despite relentless soft market conditions, according to Fitch Ratings. Fitch …
