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Speaker(s): Bridget Macdonnell (Milliman), Monika Smatralova (Permanent Tsb)
Have you ever wondered what options would be available to your company should it get into financial difficulty? Does your company have a ‘plan B’ and how practical and realistic is it? These are questions (re)insurance companies may soon need to answer.
Globally, we have seen requirements for Recovery and Resolution Plans come into force for Global Systemically Important Insurers (G-SIIs). In Europe, EIOPA has recently issued a discussion paper regarding proposals for a harmonised recovery and resolution framework that would apply to all (re)insurers.
Recovery and Resolution Plans have already been introduced in the banking industry and, having gone through the process already, our banking counterparts have a wealth of experience available to guide both insurance companies and regulators in their development of these plans.
In this dynamic session, Dr. Monika Smatralova will share her insights into the recovery and resolution planning process from a banking perspective, enlighten the audience on what they can expect in the future, and share some experiences on implementation challenges. Eoin King will discuss the latest developments in this space from a (re)insurance perspective and explore the available tool-kit through colourful case studies of recovery and resolution strategies which have been successfully implemented all around the world.