Solvency II standard formula not serving intended purpose - Swiss Re CRO

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The chief risk officer of Zurich-based reinsurer Swiss Re has criticised the standard formula for Solvency II's solvency capital requirement as not serving its intended purpose and recommended that it be replaced with a simpler approach along the lines of the Swiss Solvency Test (SST).

Raj Singh spoke at a roundtable debate at Life & Pension Risk's annual Solvency II event in London, saying the standard formula "is truly not serving the purpose it was meant to serve. They were trying to capture

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