News Archive

Solvency II to feed subordinated debt demand

September 15, 2015

From’s Rendez-vous Reporter: “Insurers have been advised by Regulators not to wait until the last minute before understanding their capital requirements and securing capital”, says Oliver Tattan, CEO of Insurance Regulatory Capital.

Read the full article here

Capital Solutions for the Solvency II era

September 14, 2015

From’s Rendez-vous Reporter: “As Solvency II takes effect, we believe our collateralised reinsurance offering will provide cedants with greater capital credit.”, says Pat Haveron, President of Maiden Reinsurance.

Read the full article here

Maiden Re steers a specialist course

September 13, 2015

From’s Rendez-vous Reporter: “The trend for industry consolidation may benefit Maiden Re as it allows the reinsurer to be more nimble than its competitors”, says Art Raschbaum, Maiden Re’s CEO.

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“Crunch Time for European insurers on capital rules”, Financial Times

September 1, 2015

“A long-awaited overhaul of financial safety standards is within sight, with far-reaching implications for the €8.4tn industry.”

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Oliver Tattan quoted in Bloomberg

August 26, 2015

“There are more investors interested in this kind of product [subordinated debt], providing capital to insurance companies,” said Oliver Tattan, CEO of Insurance Regulatory Capital.

Read the full article here

“Concerns remain for captives under Solvency II but risk management benefits embraced”, AM Best

August 24, 2015

Specialist insurers such as captives are ‘not well-catered for’ by Solvency II’s standard formula which is adding to the need for European captives to change the way they are managed, according to a new report by AM Best.

Read the full article here

“Vigilance in the run-up to Solvency II”, Insurance Day

August 19, 2015

“With Solvency II just around the corner, the market is addressing a number of issues, not least whether the US, Bermuda and other jurisdictions will be granted reinsurance equivalence status in time, according to Martin Membery, one of London’s leading insurance regulatory, corporate restructuring and M&A lawyers.”

Read the full article here

UK regulator publishes senior manager rules, August 17

August 18, 2015

UK watchdog the Prudential Regulation Authority (PRA) has published its final version of the Senior Insurance Managers Regime (SIMR), which will introduce what experts have described as a far more complex set of rules for insurers.

The drivers for the new regime include the need to bring the UK in line with Solvency II, which comes into effect on 1 January 2016.

Click here for the article on Insurance Insider

Click here to view the latest news from the PRA

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EIOPA published the user manual to complement the Solvency II risk-free interest rate (RFR) coding p

July 29, 2015

The User Manual contains the steps on how to carry out the calculations through the published RFR coding. Using the manual, the aim of the exercise is to collect input from stakeholders that would help improve the coding and spot possible errors.

Read the full article here article [Dutch]: “Meer achtergesteld kapitaal bij verzekeraars”

July 27, 2015

“Achtergestelde schulden komen in aanmerking als reglementair kapitaal onder Solvency II”

[Note: article is in Dutch]

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IRC’s response to EIOPA note: “Need for high quality public disclosure on solvency”

July 22, 2015

EIOPA recently published a note (found here) on the need for high quality public disclosures by insurers of their financial health parameters, particularly their SCR coverage.

Read IRC’s full response here

To read the article in Deutsch: klicken Sie bitte hier

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Intelligent Insurer article: “European insurers should consider subordinated debt”

July 14, 2015

IRC’s CEO Oliver Tattan: Smaller European insurers should consider the option of subordinated debt as the date of Solvency II implementation looms.

Read the full article here

Bank of England speech on the adoption of Solvency II

July 13, 2015

BoE’s Executive Director for Insurance Supervision, Sam Woods, made a speech to the Association of British Insurers intended to clarify the Bank’s views on the adoption of Solvency II.

Read the full article here

UK Insurance Sector Likely to Welcome EU Directive

July 8, 2015

The U.K. insurance sector is likely to be pleased by the latest step toward the acceptance of the Insurance Distribution Directive by the European Union, according to Alexis Roberts, a partner in the London office of international lawfirm Pinsent Masons.

Read the full article here

EIOPA publishes Set 2 of Solvency II Technical Standards and Guidelines

July 7, 2015

EIOPA has published the second set of draft Implementing Technical Standards (ITS) and Guidelines for Solvency II. The set covers different areas from all three of the Solvency II pillars.

Read the full article here

Europe’s approach to International Insurance Regulation –

July 6, 2015

Insurance has been elevated to new heights in the international financial arena; no longer playing second fiddle to the mighty banking and derivatives industries.

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An Examination of Debt Trends in the Capital Structures of European Insurers

July 3, 2015

Stable financial markets have prompted European insurers to tap the capital markets in their efforts to lower the cost of capital and optimise levels of risk-adjusted capitalisation.

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Sub debt approved as regulatory capital for mutual insurers

July 1, 2015

Subordinated debt is a prudent approach for mutual insurance companies seeking to ensure judicious capital management and maintenance. It is a structural and long term solution for a mutual’s capital requirements.

Read the full article here

Bank of England sets out penalties for firms that fail Solvency II standards

June 15, 2015

The Bank of England’s Prudential Policy Directorate has set out penalties for firms that fail to meet the Solvency II capital standards. BoE said that the 2 capital requirements introduced by Solvency II would act as trigger points in the regime’s ‘supervisory ladder of intervention’.

Read the full article here

Europe’s mutual and cooperative insurance sector expanded at a faster rate in 2013 than other areas

June 10, 2015

Report: “Europe’s Mutual Insurers Have Gained Market Share Since Global Crisis”

Read the full article here article: ‘Bermuda’s Maiden takes stake in Tattan’s IRC’

May 30, 2015

“Insurance Regulatory Capital, the debt capital provider established by Irish entrepreneur Oliver Tattan, is gearing up for a rapid expansion of its business.”

Read the full article here