Elevated status: insurance CROs overshadowing investment peers

Europe’s risk-based capital approach is adding clout to the role of the CRO

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In times of war or domestic crisis the Roman Republic appointed a single leader and dissolved the senate. The objective of Rome’s approach was to reduce risk at a difficult time by dedicating responsibility to an individual.  

For insurance regulators in Europe, the question of how to protect policyholders and the wider economy has had a somewhat similar outcome – with policy-makers investing greater power in the chief risk officer (CRO).

Along with increased responsibility, Solvency II gives CR