Risk 's Derivatives and Risk Management Summit Europe 2006: Insurance CROs still grapple with pricing core risks

Chief risk officers at leading insurance companies are still spending too much time providing reporting figures for non mark-to-market operational risks instead of analysing the basis for models, pricing and risk assumptions across the business, Tom Wilson, chief insurance risk officer at Dutch financial services firm ING, told delegates attending Risk ’s Derivatives and Risk Management conference in Monte Carlo.

“I would like to get out of the reporting game so that I can focus on the issues and identify whether or not risk is being priced adequately, but I don’t expect getting out of that for at least three years,” said Wilson, one of the panellists during this morning’s chief risk officer discussion.

Panellists, who worked in the insurance, banking and asset management businesses, said the position of