The Prudential Regulation Authority has said that changes to the Solvency II regime could be needed in response to the pandemic, Brexit and climate change.
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Lockdown hasn’t quite ended, but little shoots of normality are appearing as countries begin to reopen. Our recent weekly updates contain helpful summaries of key data, trends and analysis to help insurance company investemnt bosses cut through the noise.
The London insurance market is at the eye of the storm when it comes to major claims arising from the pandemic. From event cancellation through marine and aviation to the thorny issue of business interruption cover the sums being talked about run into hundreds of millions.
The Bank of England Prudential Regulation Authority has written to insurers clarifying how its advice to banks regarding IFRS 9, capital requirements and loan covenants impacts insurers’ internal assessments of loan creditworthiness and their treatment of unrated assets.
The mutual insurance sector is leading the way globally in showing the insurance industry how it should be responding to the Covid-19 pandemic, says Shaun Tarbuck, chief executive of ICMIF, the global federation representing co-operative and mutual insurers.