This presentation provides insights into risk and capital management from the perspective of a US life and health reinsurance subsidiary of a Bermudian L&H parent which ultimately is a subsidiary of a European composite reinsurer. Whatever you do, it has to balance impacts on:

• US statutory/RBC
• Bermuda regulatory reporting and capital requirements (and there is more than one of those)
• Solvency II
• Country specific local European GAAP
• and you have to have your own view.

Finding the best place for the risks we write and explaining it to different stakeholders while:

• considering constraints from the various regulations
• keeping an eye on potentially disruptive changes in regulation (maybe another tax reform?)
• juggling COVID related additional information and reporting requests,

is what makes the life of a CRO of an international subgroup exciting, sometimes challenging, always interesting. We will go through some case studies on how different international requirements and their connection lead to strategic decisions about capital and business flow.