New Capital Management Solutions under a Moving Regulatory Framework

New Capital Management Solutions under a Moving Regulatory Framework

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The European life insurance industry must adapt in order to survive a stagnant economic environment characterized by low interest rates and a volatile sovereign risk. New regulatory changes under Solvency 2 and IFRS 17 combined with new disruptive technology will fasten the pace of this must needed change in life insurance. Actuaries and risk managers will have no choice but to have a more acute awareness on how existing and new product lines will enable them to deliver on their financial promises. Reinsurers are at the forefront of providing effective risk transfer solutions to life insurers in order to optimize their solvency ratio and fund organic/external growth. Solvency II and QRTs: One key benchmark tool we use to identify potential capital needs of insurers is from the quantitative reporting templates (QRTs). The first section of the presentation will provide a snapshot on the different risk profiles and practices across the countries as provided in the QRTs. Financial Solutions: In the second section we will share some insights on the categories of solutions available to insurers to manage capital, such as: - Risk transfer to decrease specific SCR modules or stabilize the P&L - Financing under LGAAP or Solvency 2 to increase Own Funds or improve ROE - Capital management tools to use in future Business Plan and ORSA processes IFRS 17 going forward, we will conclude with a brief introduction on how reinsurance can help insurers on this new topic.

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