General Insurance Article - ABI response to Sam Woods speech at ABI Solvency II event


Commenting on the announcements made by PRA Executive Director, Insurance Supervision, Sam Woods at today’s ABI Solvency II seminar, Director General, Huw Evans said:

 “We welcome the PRA’s announcements on the use of transitional measures and approval of internal models under Solvency II.

 “The transitional measures are a key part of the new regulatory regime and it is reassuring to receive formal confirmation that the PRA will allow the full use of these measures to firms, including for the payment of dividends.

 “We also welcome the PRA’s clarity on the communication of internal model approvals. Regulatory decisions will now be communicated simultaneously to all firms in early December 2015, which is very close to the January 2016 Solvency II starting date. The industry will work closely with the PRA over the coming months to ensure this process can work in practice.”

Back to Index


Similar News to this Story

US Commercial Insurance rates show an increase of 6 percent
According to WTW, U.S. commercial insurance rates grew at a rate of 5.9% throughout the second quarter of 2024.
Increasing demand for reinsurance in volatile environments
Growing demand for protection in property and specialty lines driven by elevated natural catastrophe risks, macroeconomic instability and politically
Number of hailstorms doubles raising solar industry costs
Solar farms finding it hard to insure anything but a fraction of their capital value, slowing expansion of the sector. The number of hailstorms has ju

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.