Insurance

Highlights

• 22 May 2013
  • New reports discuss Solvency II's impact on solvency ratios, and new liability discount calculations
    One of our two new reports details our belief that solvency ratios will exhibit more volatility under Solvency II, reflecting the move to incorporate market-consistent valuations for insurance liabilities, although this will not change insurers' economic reality. The second report examines two possible outcomes of the ongoing Long-Term Guarantee Assessment (LTGA) impact study by the European Insurance and Occupational Pensions Authority regarding liability discounting for insurers... Solvency II report l LTGA report l Press Release​​
• 20 May 2013
  • China's new insurance solvency regime is credit positive
    The Overall Framework for China Risk-Oriented Solvency System (C-ROSS) recently published by the China Insurance Regulatory Commission (CIRC) is credit positive for Chinese insurers, as it moves to a risk-focused regime from one focused on size. C-ROSS is based on a three-pillar system - based on quantitative capital and qualitative regulatory requirements, and market discipline mechanisms - that requires insurance companies to maintain capital commensurate with their specific risks. In addition, it will regulate capital requirements based on industry cycle and stage of industry development. In contrast, the existing Solvency I framework focuses only on insurance risks based on premium volumes... Full Report​​​​​​
• 13 May 2013
  • Update to Global Macro Outlook 2013-14
    Over the past three months, the global economy has lost momentum as it recovers from last year’s slowdown. Overall, we expect real GDP growth in the G-20 advanced economies of around 1.2% during 2013, a little weaker than previously forecast, followed by 1.9% in 2014. We continue to expect the G-20 emerging economies to outpace advanced G-20 members... Full Report