The Sovereign Credit Risk Working Group was initiated by the LAC and ERM Committees, and reports into these as well as the STIC and Retirement Matters Committee. The scope of the working group is to consider South African sovereign credit risk from the insurers’ and retirement funds’ perspectives.

During this session, we will share with you the objectives of the working group, as well as the work done and outcomes thereof to date. This will relate to the following workstreams:

1) Workstream 1 – Case Studies: Global government defaults and sovereign credit risk events globally and responses

2) Workstream 2 – Research: How insurers / retirement funds in globally manage risk related to government defaults and sovereign credit risk and responses by IAA member organisations

3) Workstream 3 – Analysis: Impact of assuming South African sovereign debt is risk-free on solvency calculations

We will also share the next steps of the working group.