Insurers are using the delays to Solvency II to improve their economic capital models
European insurers are refining their internal economic capital models as regulators’ efforts to define statutory solvency requirements grind to a standstill. Louie Woodall reports
Firms look to make model outputs publicly available to test investor response to future Solvency II requirements
Insurance Risk and BNY Mellon have conducted a survey to look at how insurance companies are preparing for the new regime and the opportunities and challenges that the changes will bring.
More Economic capital articles
Using a long history of public firm defaults, this study illustrates a validation approach for jointly testing the impact of probability of default and correlation upon economic capital model performance. We construct predicted default distributions using...
Our journal's subject matter continues to evolve in response to current issues. This is clearly a very healthy process and is of obvious benefit to all associated with The Journal of Risk Model Validation. An instance of this process of evolution is...
Solvency II’s requirement for insurers to project capital calculations forward over a number of years is a significant challenge for insurers that are still grappling with modelling their year-one requirements. As Clive Davidson finds, there is significant...
Solvency II is driving the biggest shake-up of the European insurance industry for decades and its impact is being felt across the globe. Insurers are relying on technology to help them meet their obligations under the new regime, from measuring risk...
Ineffective use of economic capital frameworks 'could obscure true risk profile of firm'
With some operational risk managers not even in agreement as to the correct definition of op risk appetite, the topic seems to be one of the least well-managed in the industry. But understanding your firm’s op risk appetite is an essential ingredient...
This paper discusses a number of diverse considerations that risk managers need to incorporate into their thought processes and recurring procedures if they are to fulfill their role more effectively in the future
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