The Standard Formula Podcast | Using an Internal Model to Calculate the Solvency Capital Requirement
The Standard Formula Podcast | Dissecting the Solvency Capital Requirement
The Standard Formula Podcast | Solvency II Back to Basics: Technical Provisions
The Standard Formula Podcast | Investment Rules for Insurers and Reinsurers
The Standard Formula Podcast | Understanding the UK’s Matching Adjustment Regime
The Standard Formula Podcast | Group Supervision Under Solvency II
The Standard Formula Podcast | Solvency II Back to Basics: Third Country Branches and Cross-Border Provision of Services
Standard Formula Podcast | Reinsurance and Risk Transfer: Risk Mitigation Under the Solvency II Regime
The Standard Formula Podcast | Back to Basics: Exploring the Many Facets of the Solvency II Regime
The PRA has released an important statement on its approach to funded reinsurance. Our view is that the statement endorses the conceptual principle that funded reinsurance (particularly to offshore counterparties) should best...more
“The value of technical provisions should correspond to the amount which another insurance or reinsurance undertaking (the reference undertaking) would be expected to require to take over and fulfil the underlying insurance...more
This episode of “The Standard Formula” podcast features a conversation with the Financial Institutions Group’s Ben Lyon and Verena Mengis, who walk listeners though recent proposals for reform relating to Solvency U.K. and...more
As discussed in our previous updates, in June 2020 the UK government announced a wide-ranging review of the Solvency II framework in the UK, aimed at reforming the insurance regulatory framework inherited from the EU given...more
The post-Brexit Solvency II reform aims for a more competitive and dynamic insurance sector in the UK. The UK government’s proposals to adapt the Solvency II regime more appropriately to the national insurance market have...more
This edition of The Standard Formula looks at the updated proposals set out in the consultation paper published by the Bermuda Monetary Authority (BMA) on July 28, 2023, which relate to the BMA’s plan to enhance the...more
The UK Prudential Regulation Authority (PRA) laid out its priorities for insurance supervision this year in a 10 January 2023 Priorities Letter. In this newsletter, we summarise the broad themes emerging from the Priorities...more
COVID-19 BI insurance test case: FCA updates webpage The Financial Conduct Authority (FCA) has updated the webpage on its business interruption (BI) insurance test case. The FCA has published the Supreme Court order varying...more
Financial services, including insurance and reinsurance (together, (re)insurance), have effectively been omitted from the Trade and Cooperation Agreement (TCA), resulting in arguably the “hardest” Brexit for any key UK...more
The UK Financial Conduct Authority (FCA) announced on July 8 that the guidelines issued by the European Insurance and Occupational Pension Authority (EIOPA) on outsourcing to cloud service providers are not applicable to...more
As a global insurance industry team, we aim to follow industry trends and developments as closely as possible in order to deliver well informed perspectives and thought leadership to our clients and contacts. In the newly...more
On January 13, 2017, the then-US Secretary of the Treasury and the then-US Trade Representative (USTR) notified Congress that they had negotiated a covered agreement with the European Union (EU). After a period of uncertainty...more
On 18 December 2018 the UK and the U.S. signed an agreement on the prudential supervision of insurance and reinsurance companies. Shortly thereafter, on 25 January 2019, HM Treasury announced that it had signed an agreement...more
The Hogan Lovells’ Corporate Insurance Newsletter for February has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more
The Hogan Lovells’ Corporate Insurance Newsletter for June has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. In this issue,...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
The UK’s Prudential Regulation Authority has published: - a brief Policy Statement: “Solvency II: external audit of the public disclosure requirement – PS24/16“; - a short Supervisory Statement: “SS11/16: Solvency...more
Over the last week or two, a number of articles have “warned” us that Solvency II is here to stay – even in post-#Brexit Britain. This raises 2 questions: (i) is Solvency II really here to stay? And (ii) if it is, is that...more
Under the PRA’s Solvency II-implementing rules, (re)insurers are required (*) to publish an annual Solvency & Financial Condition Report (SFCR), which describes: - the (re)insurer’s business and performance; - the...more
Between 1 April 2013 and 15 February 2016, the PRA published a series of Solvency II Directors’ letters, Executive Directors’ letters, and Feedback Statements, so that everyone knew what its expectations were, as it developed...more
The PRA has published a letter from Chris Moulder, its general insurance director, to the CEOs of the 26 general insurers and Lloyd’s syndicates that participated in its 2015 General Insurance Stress Testing exercise. The...more