Will new U.K. insurance regulations limit industry competition?

UK Insurance regulations

Insurers and consumers across the United Kingdom are wondering if new rules will spike prices. The U.K. government and industry regulators have now begun a new move to help to make changes to the insurance regulations that are currently in place through the Solvency II regime. The reason is that the government and insurance regulators are worried about a less competitive market. Recently, submissions were made to the European Commission, the Bank of England, and the Treasury in order to underscore the insurance regulations they are seeking to change. Within…

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Insurance industry news in Europe reveals considerable stress vulnerability

insurance industry statistics business virtual

The EIOPA released the results of a test that it conducted on the sector and showed a “double hit” could be painful. Recent insurance industry news from the European Insurance and Occupational Pensions Authority (EIOPA) has revealed the results of a form of “stress test” that it conducted and which has now shown that this sector has a higher vulnerability to a stress scenario in which there would be a “double hit” combination of a decrease in asset values and a reduced risk free rate. Overall, the testing showed that…

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International insurance news shows EFG Eurolife to use SAS to address Solvency II requirements

Insurance News

One of the largest insurers in the Greek marketplace will be using it to establish an integrated platform. EFG Eurolife has released its most recent insurance news, stating that it will be using SAS Risk Management for its metrics calculations and risk mitigation in order to help it to comply with the requirements for Solvency II. SAS is currently the analytics software and services leader for business. It will be assisting EFG Eurolife – one of the biggest carriers in the Greek marketplace – with establishing a platform that will…

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Institute of International Finance warns European Union regarding upcoming changes to insurance and banking regulations

As the European Union seeks to draft new plans governing the investments made by insurance companies, the world’s largest financial institution has voice concern over the initiative. The Institute of International Finance claims that the new rules being weighed by the EU will encourage insurers to seek out riskier investments. Such practice would put the world’s financial infrastructure in a dangerous position, as the assets most often pursued by insurance companies looking to generate major profit are the ones whose failure is disastrous. The EU is looking to change regulations…

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