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Jul 31, 2024 | 
jdsupra.com | George Belcher |Robert Chaplin |Ben Lyon
See all chapters of A Guide to Solvency II. IntroductionThere are two main methods of calculating the solvency capital requirement (SCR) under Solvency II, the “standard formula” and “internal model” methods:(a) The standard formula method, as its name suggests, is the default approach and is a standard set of rules which apply unless a (re)insurer has an internal model.
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Jul 31, 2024 | 
lexology.com | Robert Chaplin |George Belcher |Ben Lyon
IntroductionThere are two main methods of calculating the solvency capital requirement (SCR) under Solvency II, the “standard formula” and “internal model” methods:(a) The standard formula method, as its name suggests, is the default approach and is a standard set of rules which apply unless a (re)insurer has an internal model.
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Jul 2, 2024 | 
jdsupra.com | George Belcher |Robert Chaplin
July 2, 2024
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[co-author: William Adams]See all chapters of A Guide to Solvency II.
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Jun 27, 2024 | 
lexology.com | Robert Chaplin |George Belcher
Click here to listen to the audioOur latest episode of “The Standard Formula” Back to Basics series explores the internal model method for calculating the Solvency Capital Requirement. Host Rob Chaplin is joined by George Belcher to dissect the advantages and disadvantages of this model, as well as the necessary approval to use an internal method and the accompanying preparation phase, among related topics.
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May 22, 2024 | 
jdsupra.com | George Belcher |Robert Chaplin |Ben Lyon
[co-author: Mary Bonsu]Market BackgroundIn recent years, demographic changes and macroeconomic factors have led to significant growth in insurance markets. Within insurance markets, a much more active market in trading “back-books” of insurance liabilities has developed, allowing insurers to optimise their capital allocation and write more new business.
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Jan 30, 2024 | 
jdsupra.com | George Belcher |Robert Chaplin |David Wang
January 30, 2024
George Belcher, Robert Chaplin, David Wang
Skadden, Arps, Slate, Meagher & Flom LLP
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[co-author: Meher Pahuja]See all chapters of A Guide to Solvency II. Introduction(Re)insurance is a global business.
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Nov 27, 2023 | 
lexology.com | Robert Chaplin |George Belcher |David Wang
Own funds is the Solvency II1 term for the items that constitute a (re)insurer’s regulatory capital. These are principally balance sheet items, with limited allowance for off-balance sheet items. Own funds are items that are most available to absorb losses, such as retained earnings, the proceeds of paid-in ordinary share capital or types of long-term debt instruments.
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Nov 20, 2023 | 
jdsupra.com | George Belcher |Robert Chaplin
BackgroundOn 16 November 2023, the UK Prudential Regulatory Authority (PRA) released draft measures to address perceived risks in the market for funded reinsurance, which is widely used as part of transactions that shift pension scheme liabilities to insurers. The bulk purchase annuity (BPA) market, in which UK defined-benefit pension schemes offload liabilities and assets to specialised life insurance carriers, continues to expand.
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Oct 10, 2023 | 
lexology.com | Robert Chaplin |George Belcher |David Wang |Sahej Grewal
As discussed in our November 2022 and July 2023 newsletters,1 the UK government is implementing a comprehensive set of proposals for regulation of financial services in the UK, including for insurers. This follows the UK’s withdrawal from the European Union on 31 December 2020, with the UK now exercising its freedom to move away from key EU insurance prudential regulatory standards, to develop a regime known as “Solvency UK’.
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Sep 5, 2023 | 
jdsupra.com | George Belcher |Robert Chaplin
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 regulatory and supervisory regime for commercial insurers and insurance groups. These amendments follow on from the BMA’s prior consultation paper published on February 24, 2023.
