Blog: Archive

The first public submissions of the Solvency and Financial Condition Report (SFCR) for the majority of firms were published in late May this year. In this series of blogs we present the key findings of our analysis of each section of the SFCR.

We share the key takeaways from our recent seminar, discussing some of the key challenges the actuarial function can expect to face over the next six months as we approach the end of the first year of Solvency II, as well as looking at the UK’s decision to leave the EU.

Barnett Waddingham follows up after the 2015 Life Conference where we spoke about the Bulk Purchase Annuity (BPA) market being the Wonder Woman of the life sector. The BPA market is currently one of the most dynamic areas of the life sector, with records being broken every few months, and it acts as a great opportunity to unite the life and pensions practice areas.

The Own Risk and Solvency Assessment (ORSA) is one of the cornerstones of the Solvency II regime however our experience shows that they appear to evoke a Marmite like response in that people either love them or hate them.

On 14 July 2015 EIOPA published a note entitled ‘Need for high quality public disclosure: Solvency II’s report on solvency and financial condition and the potential role of external audit’. We discuss this note in our latest blog.

On Tuesday 7 July we hosted our ‘Solvency II must do’ seminar bringing together experts in each of the three pillars to share with the audience the must do’s before 1 January 2016.

The PRA has proposed a supervisory statement that seeks to outline some of the key aspects of good board governance to which the PRA attaches particular importance in its supervision. Read more in our latest blog.

On 19 March the PRA held a briefing session on the role of NEDs in an internal model firm. As well as providing useful considerations for NEDs, the session included an update on Solvency II topics which are relevant for all insurers.

Last week, the Financial Conduct Authority (FCA) published its business plan for the year 2015/16. In this blog, we summarise the FCA risk outlook, how the insurance sector is impacted by the FCA’s upcoming activities and look at relevant studies.

Prudential Regulation Authority (PRA) recently published a whopping 15 Solvency II related supervisory statements. Among these were statements on applying for exemptions and other approvals. We look at the key points from both statements.