Internal models
Good documentation central to model approval, say supervisors
Standard-forumula firms also face more stringent requirements
Imap burden 'exorbitant' - Allianz CRO
Documentation for approval process running to 110,000 pages
Unanswered questions remain on model change policies
Status of reactive parameters left open by Eiopa
UK insurers’ internal model validation processes 'hugely inefficient'
Firms struggling with validating external models, expert judgement and risk dependencies, say experts
Basel securitisation rules revisions criticised
While the December proposals incorporate many of the industry's comments, banks claim the rules are still too harsh
PRA wrestles with early-warning indicators calibration
Calibration for general insurers and with-profits funds frustrates regulator's progress
Avoid one-size-fits-all capital approach, says Osfi’s Zelmer
Regulators have increasingly been pushing for less reliance on bank internal models, but Osfi’s deputy superintendent of the regulation sector, Mark Zelmer, thinks internal models have a place
Insurers upgrade management actions models
The missing piece
The economic view
Insurers are using the delays to Solvency II to improve their economic capital models
Insurers explore new risk metrics in bid to refine 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
Conditional approval of Solvency II internal models should be allowed, urges PRA official
Insurers' efforts to develop internal models should be recognised by supervisors
Insurers developing internal model risk calibrations for non-standard credit assets
Underlines growing strategic importance of infrastructure bonds and MBS, finds survey
Early-warning indicators needed to address failings in Solvency II - PRA chief
Effective and prudent solution needed on Solvency II matching adjustment, says Bailey
PRA reserves right to review internal models after Icas+ approval
Entry requirments for transitional regime will be high, says PRA official
Fears volatile model warning indicators could lead to unjustified action
UK regulator urged to reconsider proposed early-warning indicators to reflect better changes in economic conditions and not penalise insurers’ de-risking strategies
Eiopa developing early-warning indicators to monitor internal models
Indicators needed to identify situations where a firm's model no longer meets Solvency II calibrations, saya Eiopa
UK regulator right to retain flexibility to force changes on internal models
Head of the PRA plans to use early warning indicators in supervisory work, notwithstanding the risk of EU challenge
Lloyd’s insurers challenged by internal model change policies
Questions on parameterisation remain unanswered by European rule-makers
Profile: FSA's Jo Paisley, on data, modelling and the Bank of England
The Financial Services Authority has a Bank of England veteran heading its risk division as it is subsumed by the central bank. Jo Paisley tells Laurie Carver how the two disparate cultures can be reconciled – particularly when it comes to data
Bank groups revise trading book counter-proposals
Industry associations seek to put banks in control of diversification treatment - but propose regulatory safeguards
Insurers deal with delays to Solvency II rules
Out of focus
Solvency II capital tests not part of augmented Icas regime, FSA confirms
Insurers welcome Icas+, although uncertainty remains over future requirements