As one of the biggest managing agents in the Lloyd's market with responsibility for seven syndicates and two special purpose syndicates, Asta is at the frontline in tackling the challenges of Solvency
II regulatory compliance.
Most European insurers seem to be, according to EY's 2014 European Solvency
Tagetik, a visionary leader in global performance management software solutions, today announced its " Solvency
II European Roadshow," which will visit the UK, Netherlands, France, Sweden and Spain during March and April.
Together, Dublin-based Silverfinch and Luxembourg-based Fundsquare would develop their "look-through" and "data utility" services that are designed to aid insurers and asset managers to cope with the regulatory obligations of the Solvency
He said that Bahraini banks in particular and Gulf and Arab banks in general have better financial solvency
than European and western banks as Arab and Gulf banks determine financial solvency
on the basis of shareholders rights and retained profits unlike western banks which determine financial solvency
on the basis of other elements that have been superseded by Basil III.
While Moody's acknowledges that the move to Solvency
II will not change insurers' economic reality, the introduction of new solvency
ratios may influence the behaviour of investors, insurers and regulators.
In a recent Solvency
II report Gartner makes the recommendation to " analyze, together with the business department, potential solution synergies between Solvency
II and IFRS4.
The Insurance Regulatory and Development Authority (Irda) of India has set up a committee to report on a proposed change to a risk based solvency
model from a factor based solvency
model for insurers in the country.
The accounting and solvency
regulatory framework for insurers is going through major overhaul in the coming years with new accounting standards for insurance accounting, financial instruments and global move towards risk-based capital solvency
requirements," said Altooblani.
Britain's isolation is making it harder for it to influence key aspects of the so-called Solvency
II capital regime, potentially putting its insurance industry, Europe's biggest, at a competitive disadvantage.
In the same spirit, The National Association of Insurance Commissioners' (NAIC) Solvency
Modernization Initiative has placed heavy focus on reviewing key solvency
areas, such as insurance valuation, reinsurance, and capital requirements.
The implementation of Solvency
II in 2013 is expected to dramatically change the captive market in the European Union.
Handbook of solvency
for actuaries and risk managers; theory and practice.
The Financial Services Agency is planning to introduce a consolidated solvency
margin standard for insurance firms in Japan in the fiscal year through March 2012, sources close to the matter said Monday.
com)-- The Solvency
II Directive continues to dominate the agenda for many UK financial services companies and JMR UK and Magellan Consulting Services are collaborating to provide a complete solution and are hosting a Solvency
2 event at the Capital Club in London's Abchurch Lane on 21st October with drinks and the chance to network with peers from 17.