News Archive
Solvency II to feed subordinated debt demand
September 15, 2015
From ReactionsNet.com’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.
Capital Solutions for the Solvency II era
September 14, 2015
From ReactionsNet.com’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.
Maiden Re steers a specialist course
September 13, 2015
From ReactionsNet.com’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.
“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.”
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.
“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.
“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.”
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.
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.
InFinance.nl 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]
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.
To read the article in Deutsch: klicken Sie bitte hier
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.
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.
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.
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.
Europe’s approach to International Insurance Regulation – SolvencyIIWire.com
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.
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.
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.
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’.
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”
Independent.ie 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.”
