Allianz was one of 19 firms to receive Insurance Risk awards for outstanding risk management and risk advisory work at a presentations evening in London on November 11.
The German insurer won the award for insurer of the year for its early development of capital-lite products and its shrewd management of the regulatory balance sheet, contributing to an expected Solvency II solvency ratio of 300% for the German business and over 200% for the group as a whole, without the use of transitionals.
Accepting the award, Tom Wilson, chief risk officer at Allianz, said: "Market developments, low interest rates, solvency regulations and changing shareholder expectations have all impacted the way Allianz thinks about capital and its optimal deployment from both a return and a risk perspective.
"Recognising the imperative to change, we have worked hard to make our capital and dividend-paying capacity resilient and to ensure we are investing in the right new business for the future."
Other award winners include Robert Rupp of The Hartford as CRO of the year, Prudential Financial as reinsurer of the year, and Goldman Sachs as best bank for credit risk and best bank overall. The deal of the year was Axa’s €285 million mortality bond – Benu Capital.
Two technology firms picked up two awards each for their investment and compliance tools. Moody’s won best Solvency II software package and best economic scenario generation software, SunGard won best data management service provider and best actuarial modelling software.
Many of the awards were given in recognition of innovative solutions to help improve the certainty of compliance with Solvency II and other risk-based capital regimes, as well as soothing the pain of prolonged low rates.
The profiles of our winners can be found below.