Industry voices concern over QIS3


Industry figures have raised concerns over the new specifications for the third quantitative impact study (QIS3), which is due to be run throughout European insurance firms later this year. Chief among their concerns are the continuing narrowness of the margin between the minimum and solvency capital requirements (MCR and SCR), the distinction between hedgeable and non-hedgeable risks and the operational risk charge for unit-linked business.

David Hare, the newly-promoted chief actuary of

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