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Tag Archives: Risk management

Posted in Regulatory and legislative updates, UK

UK: Prudent Person Principle – PRA sets out its expectations

  On 18 September 2019, the Prudential Regulation Authority (the “PRA”) published Consultation Paper (“CP”) 22/19, which details its proposed expectations of firms investing in accordance with the Prudent Person Principle (“PPP”). Background The PPP can be found in Chapters 2 to 5 of the Investments Part of the PRA Rulebook, which transposes Article 132

Posted in Regulatory and legislative updates, UK

UK: PRA publishes Consultation Paper 3/19 “Solvency II: Longevity risk transfers-simplification of pre-notification expectations”

On 5 February 2019, the Prudential Regulation Authority (PRA) published Consultation Paper (CP) 3/19, which proposes to update Supervisory Statement (SS) 18/16 “Solvency II: longevity risk transfers” to simplify the pre-notification requirements for longevity risk transfers and update the key risks the PRA considers arise from longevity risk transfers. Since Solvency II came into effect

Posted in Market developments, Regulatory and legislative updates, UK

Event: Insurance and structured finance – a new dawn

A growing trend is emerging within the insurance sector, where insurers and other users of insurance products are looking to structured finance solutions both from an investment and risk management perspective. What are the driving forces behind this development? Is regulation enhancing or impeding the trend? What role do insurers and other participants play in

Posted in Regulatory and legislative updates, UK

UK: A re-evaluation of Equity Release Mortgages – PRA Discussion Paper

On 31 March 2016 the Prudential Regulation Authority (PRA) published a discussion paper asking for views from firms and market participants on equity release mortgage (ERM) valuation, capital treatment, risk management and matters connected with the restructuring of ERMs under Solvency II. In particular, the PRA is seeking views on good practices for managing risks

Posted in Market developments, Regulatory and legislative updates, Spain

Spain: Impact of Solvency II in the Insurance Companies’ Equity Capital

The Preliminary Draft of the Insurance and Reinsurance Entities’ Organization, Supervision and Solvency Act which will transpose into Spanish Law the Directive 2009/138/CE (Solvency II) was recently published introducing important developments regarding the current legislation. As foreseen in the Directive, the three pillars are the known ones:(i) capital requirements, (ii) the new supervision system for a