The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Group Supervision Under Solvency II
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
The Standard Formula Podcast | Back to Basics: Exploring the Many Facets of the Solvency II Regime
Solvency II is organised around three core pillars of prudential regulation, which ensure the safety and soundness of (re)insurers, in line with the scale, nature and complexity of their business: - Pillar One focuses on...more
The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
There are two main methods of calculating the solvency capital requirement (SCR) under Solvency II, the “standard formula” and “internal model” methods: (a) The standard formula method, as its name suggests, is the default...more
PS10/24, implementing reforms to the UK’s Solvency II regime for matching adjustment portfolios, came into force on June 30, 2024. The reforms aim to increase investment flexibility and provide a wider range of options for...more
The Solvency Capital Requirement (SCR) is designed to protect policyholders by helping ensure that insurers can survive difficult periods and pay claims as they fall due. It prescribes a specific level of capital that an...more
Our latest episode of “The Standard Formula” Back to Basics series explores the internal model method for calculating the Solvency Capital Requirement. Host Rob Chaplin is joined by George Belcher to dissect the advantages...more
“The value of technical provisions should correspond to the amount which another insurance or reinsurance undertaking (the reference undertaking) would be expected to require to take over and fulfil the underlying insurance...more
“The Solvency Capital Requirement, or SCR, is designed to protect policyholders by helping to make sure that insurers can survive difficult periods and pay claims as they fall due.” In this episode of "The Standard Formula"...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months. Coming up in May and June. MONTH DATE DETAILS MAY 31 ESG: all authorised firms need to comply with the...more
This chapter discusses and analyses the investment rules that apply to Solvency II insurers and reinsurers in the United Kingdom. In particular, this chapter will outline the “prudent person principle” and discuss the...more
In the latest installment of “The Standard Formula” Back to Basics series, podcast host and Europe financial institutions head Robert Chaplin is joined by colleague Mary Bonsu to provide listeners with a deeper understanding...more
1. Background to the Matching Adjustment - “Where insurance and reinsurance undertakings hold bonds or other assets with similar cash flow characteristics to maturity, they are not exposed to the risk of changing spreads...more
This episode of “The Standard Formula” podcast features a conversation with the Financial Institutions Group’s Ben Lyon and Verena Mengis, who walk listeners though recent proposals for reform relating to Solvency U.K. and...more
As discussed in our previous updates, in June 2020 the UK government announced a wide-ranging review of the Solvency II framework in the UK, aimed at reforming the insurance regulatory framework inherited from the EU given...more
Group supervision regulates the impact that members of a Solvency II group may have on a UK Solvency II insurer. The rules governing Solvency II groups are contained in the PRA Rulebook (Group Supervision), the Solvency 2...more
“The Standard Formula” host Rob Chaplin is joined in this episode by colleague Theo Charalambous as they map out the intricacies of the U.K.’s matching adjustment regime for insurers, which will soon be reformed. The...more
Bermuda formed the first modern captive in 1962 and remains the leading offshore captive domicile, with approximately 700 licenced captives on its register. Bermuda’s captive industry has remained resilient in the face of...more
Le bureau Parisien de Hogan Lovells a le plaisir de vous adresser sa lettre d'information mensuelle qui vous présente les Actualités législatives et réglementaires du mois de janvier 2024. Ces Actualités législatives et...more
In our fourth installment of “The Standard Formula” Back to Basics series, host Robert Chaplin is joined by Feargal Ryan for a detailed discussion on group supervision under Solvency II. Topics covered include circumstances...more
(Re)insurance is a global business. It is common for (re)insurance groups to operate in a range of jurisdictions via: i. locally incorporated and authorised subsidiaries, ii. local branches of third country...more
On 11 January 2024, the Prudential Regulation Authority (PRA) published its annual Dear CEO letter setting out its priorities for the supervision of (re)insurers in 2024. Similar to last year, financial and operational...more
A snapshot of key market and regulatory developments expected to impact the UK insurance sector over the next few months....more
The primary function of an insurer is the assumption and management of insurance risk. Very commonly, this will involve an insurer passing (or ceding) risk to other (re)insurers or protection providers in the relevant market....more
“The Standard Formula” podcast continues its Back to Basics series — a deep dive into the Solvency II regime — discussing the regime’s provisions regarding third country branches and the cross-border provision of services. ...more
A Members Voluntary Liquidation ("MVL") is a process undertaken by a solvent company to wind up its affairs in an orderly manner when the company has concluded its activities and the shareholders wish to distribute the...more