Publications

Insurance Banana Skins is piece of research conducted by the Centre for the Study of Financial Innovation (CSFI), an independent think tank, that is sponsored by PwC. It's a survey of insurers and seeks out their views on current risk and future trends.

Illustrative general insurance group annual report prepared under UK GAAP (31 December 2011)

Illustrative general insurance group annual report prepared under UK GAAP (31 December 2012)

If insurers are not confident about the reliability of their data and the governance surrounding their models, they cannot be sure about the quality of the information coming out, and neither will their supervisor. How can insurers make sure that their models stand up to scrutiny?

PwC's Countdown to Solvency II includes articles on ORSA, Pillar 3 disclosures, and other key Solvency II issues.

Insurance Banana Skins is piece of research conducted by the Centre for the Study of Financial Innovation (CSFI), an independent think tank, that is sponsored by PwC. It's a survey of insurers and seeks out their views on current risk and future trends.

This is the fourth edition of Countdown to Solvency II. It features articles on UK and German regulation, project management for multinationals, data and systems, and governance.

This is the 3rd edition of Countdown to Solvency II from our international Solvency II team. It examines how to make the most of QIS 4 and view it as an opportunity to understand the commercial implications of Solvency II.

In a period of unrelenting change, culture can be your greatest ally or your biggest enemy. How can you actively shape your culture and use it to your competitive advantage?

Insurance Banana Skins is piece of research conducted by PwC in association with the Centre for the Study of Financial Innovation (CSFI), an independent think tank. It's a survey of insurers and seeks out their views on current risk and future trends.

This PwC publications looks at the key transfer pricing considerations under Solvency II for pan-European insurance groups with branch structures.

The CEO Survey shows how insurance leaders are stepping up investment in customer service, new technology and talent as they seek to reinforce customer acquisition and loyalty.

We explore the strategic and practical issues facing insurers as they implement the Solvency II insurance reporting and disclosure requirements under Pillar 3.

While insurance share prices will continue to be heavily influenced by 'macro' factors, there is a lot more that management teams could be doing to help focus investors back on the economic fundamentals of the business.

Keep up with insurance regulation. Solvency II and IFRS overlap so save money and time by doing things once, and improve your market reporting.

PwC research explores the future of insurance. What are the forces set to shape it? What will the new marketplace look like? How can life and pensions thrive?

PwC's Future of Insurance explores both the key drivers of change for the insurance industry and their implications for the insurance business.

Are emerging markets the best bet for reinsurance companies? We tackle the questions around the generation of ongoing sustainable profits for reinsurance companies.

Watch video outlining how insurance regulators are actively working on a range of insurance directives in addition to Solvency II

The aim of this paper is to help insurers cut through the detail by looking at the underlying trends that are shaping the latest regulatory developments, the thinking behind them and the implications for their strategy and operations.

This PwC publication examines the growing technology options being developed for Solvency y II and assesses the IT systems architecture and solutions now available.

This PwC publication explains why Pillar 2 is the catalyst that will challenge insurers’ risk culture, governance and risk management. But how do you interpret and apply the regulations to create an efficient risk management process?

This PwC publication explain why insurers will want to rethink their investment strategies because of Solvency II, which will have a big impact on asset managers, a huge proportion of whose business comes from insurers.

This PwC video examines transitional and US equivalence issues under Solvency II and its implications for how businesses are structured, where they are domiciled and how decisions over reinsurance and acquisitions are made.

This PwC reference guide helps you manage your financial services transfer pricing issues.

This PwC paper discusses the fact that syndicates at Lloyd’s have already had to complete the development and begin the embedding of a capital model which meets Solvency II standards as Lloyd’s prepares for its market-wide model application in April 2012 and asks: As other insurers gear up for the final stages of the model application process, what can they learn from the Lloyd’s businesses that have been there ahead of them?

How insurance leaders in the CEO Survey are striving to sustain profitability and growth.

EIOPA have made some significant decisions on quantitative reporting measures in response to stakeholders’ concerns.  Here we discuss implications, areas of uncertainty and the deadlines.

Pillar 3 can’t be put off any longer. So how can you get Pillar 3 implementation on track, who should be involved and what are the potential bottlenecks?...

PwC's 'Maximising value from your reinsurance spend' explains why insurers are overlooking an opportunity to improve their reinsurance purchasing power.

PwC's Daring to be different explains why a change of strategy could help reinsurers demonstrate how they create value and thus improve investor interest.

A video of the keynote address ― at the PwC Breakfast Briefing at the Reinsurance Rendez-vous 2011 seminar ― by Martin Sullivan, Deputy Chairman of Willis Group and Chairman and CEO of Willis Global Solutions.

Key findings from the latest PwC & Association of Run-off Companies (ARC) survey

This series of articles draws from PwC's extensive work with clients and regulators to offer you insightful guidance that focuses on the practicalities rather than the technicalities of Solvency II.

With growth stalling, premium prices falling and share values under-performing, many wholesale insurers appear to be running out of options.

PwC is helping a range of insurers to get to grips with the practicalities of Solvency II implementation.

A one-year delay to the Solvency II implementation date appears all but confirmed by the latest draft Omnibus II Directive, published in July 2011 by the European Parliament, providing clarity in some areas yet signposting places where further debate will be needed.

Whether to opt for an internal model, the standard formula or one of the options in between is one of the most crucial decisions within Solvency II. It not only affects your firm's capital requirements, but also the way the business is managed and perceived by stakeholders.

While spreadsheets will remain an important tool under Solvency II, they can be inherently difficult to control. Reducing dependence on spreadsheets will therefore be the first priority...

Model validation is one of the six key tests for model approval, however, few insurers have made much headway in model validation. Insurers have until April 2012

The business case for insurers’ current investment in financial models is based on leveraging significant operational and commercial advantage post-implementation. Inside this PwC publication, see how well are they doing.

While the technical provisions are undoubtedly a challenging area of Solvency II implementation, many insurers may be making them more complicated than they actually need to be.

Understanding the implications of QIS5. The results from QIS5 published by EIOPA show that in many areas the requirements tested were broadly appropriate, but a significant number still require change. Read the full publication.

Your documentation is the public face of your Solvency II programme. It helps you to make a convincing case to your supervisor that your capabilities and approach are fit for purpose. How can you provide the right kind of documentation to demonstrate compliance without swamping your business in needless paperwork?

Alwin Swales, a director in our Solvency II team, looks at how to gear your systems and technology to the tough new regulatory and business demands.

Confidence in your capital: The Solvency II data directory

Insurers seek to structure their operations so that they are capital and tax efficient - Solvency II has changed the playing fieldThe fifth quantitative impact study (QIS5) has demonstrated that capital management structures that are tailored to existing regulation are likely to be less efficient under Solvency II. What can you do to improve your capital position?

Simon Martin, a PwC Director in our UK rating agency Advisory team, discusses how rating agencies are responding to Solvency II and how it could affect your credit rating.

Insurance Banana Skins is piece of research conducted by the Centre for the Study of Financial Innovation (CSFI), an independent think tank, that is sponsored by PwC. It's a survey of insurers and seeks out their views on current risk and future trends.

Instilling risk awareness into the culture and decision making of your organisationModels don’t make decisions, people do.

Following the opportunity given by the Commission Services to comment on their consultation document on the Level 2 implementing measures for Directive 2009/138/EC on the taking-up and pursuit of the business of Insurance and Reinsurance (‘Solvency II’). PwC are pleased to provide their response.

On 19 January 2011 a provisional version of the draft text of the Omnibus II Directive was published. This directive will, if adopted, amend the Solvency II Directive. A summary of Omnibus II’s more significant proposals is set out in this document.

Illustrative general insurance group annual report prepared under UK GAAP (31 December 2011)

Illustrative general insurance group annual report prepared under UK GAAP (31 December 2012)

This paper summarises the PwC comment letter on the latest proposals for the future of insurance reporting published by the International Accounting Standards Board (IASB) in July 2010.

Getting set for Solvency II outlines the findings of a survey looking at European insurers' readiness for implementation. The survey aims to provide a benchmark against which you can compare your own progress.

Countdown to Solvency II. Keeping pace with faster turnaround times for regulatory returns.

Countdown to Solvency II. Preparing the Own Risk and Solvency Assessment (ORSA) and building it into a running of the business.

If insurers are not confident about the reliability of their data and the governance surrounding their models, they cannot be sure about the quality of the information coming out, and neither will their supervisor. How can insurers make sure that their models stand up to scrutiny?

Preparing a Solvency II balance sheet and managing the impact on market communications.

Solvency II will intensify the pressure on capital, cost and tax efficiency, making the potential benefits from corporate restructuring even greater.

This publication examines the differences and similarities between the two frameworks and start to assess how this will affect reporting systems, management evaluation and market communication.

Achim Bauer and Arthur Wightman consider the state of the market and what opportunities lie ahead for industry leaders.

This article examines the implications for three main areas: Reinsurance broking; direct broking and agency relationships; and captive management. Roy Clark and Bryan Joseph look at the likely winners and losers.

The Survivors’ Guide to Solvency II has been prepared by subject matter experts from PricewaterhouseCoopers LLP. Drawing on our research and work with clients, the guide covers areas that are causing the greatest difficulties for insurers or may have been missed altogether. The focus is on the practicalities rather than the technicalities, along with the implications for the strategy and management of the business.

Gavin Phillips and Andy Moore look at how the London Market can emerge stronger from the testing times ahead.

Here, we explore the key issues of Solvency II and provide insight into the challenges insurers face as they implement its requirements.

Here, we explore the key issues of Solvency II and provide insight into the challenges insurers face as they implement its requirements.

Charles Garnsworthy, a partner in PwC Solvency II team, assesses the technical, logistical and market communications challenges of preparing a Solvency II balance sheet.

Writing a column in Insurance Insider Quarterly, Andrew shares his thoughts on latest developments in IFRS.

John Bromfield discusses how to make risk appetite a key tool in the management of the business.

Early steps to integrate Solvency II into business as usual will be crucial in reducing compliance costs and realising the competitive benefits. How can insurers lay the foundations for sustainable ‘industrialised’ implementation?

Rather than strengthening risk and capital disclosure, Solvency II could lead to a reporting overload. How can insurers strike a balance between meeting regulatory expectations and providing information that would help them to convey the true strength and potential of the business?

Solvency II requires insurers to align their risk taking with a clearly articulated risk appetite, creating an opportunity to turn risk appetite from a conceptual nicety into a practical and valuable management tool.

The fifth Quantitative Impact Study (QIS5) provides a last chance to gauge the likely capital requirements and balance sheet impact on your business of using the Solvency II European Standard Formula. Here is a quick guide to undertaking QIS5 including timings, preparations and key people required.

Gauri Shah of PwC’s Solvency II team looks at how you can make the most of QIS 5 by using the results to help shape more effective business and implementation strategies.

Here, we explore the key issues of Solvency II and provide insight into the challenges insurers face as they implement its requirements.

George Stylianides, a partner in PwC’s Solvency II leadership team, looks at how to ensure that programme management for Solvency II is clear, credible and deliverable.

How will the strategic implications of Solvency II drive M&A and what will be the impact on the shape of the industry?

The ‘use test’ is proving to be one of the toughest aspects of the internal model approval process (IMAP). How can firms get up to speed while reaping the competitive benefits of a more effective basis for decision-making?

Solvency II is set to impose huge extra demands on risk and capital management disclosure.Yet reporting is still a low implementation priority. How can insurers get their preparations on track?

Here, we explore the key issues of Solvency II and provide insight into the challenges insurers face as they implement its requirements.

Here, we explore the key issues of Solvency II and provide insight into the challenges insurers face as they implement its requirements.

Andrew Hill of PwC says the latest reporting rules could be a huge boon for the industry, and enable companies to ensure that the value they create is properly reflected in their share price.

With so much of the Solvency II implementation project resting on the quality of the data, now is the time to make data a priority and get preparations on track.

With the internal model approval process (IMAP) likely to be a learning curve for both supervisors and applicants, what practical steps can companies take to make a convincing case?

Solvency II requires insurers to put in place an effective risk management framework. But what does that actually mean in practice and what are the biggest challenges?

Making sense of the numbers discusses insurance reporting, insurance contracts, and the measurement/classification of financial instruments.

PwC's Countdown to Solvency II includes articles on ORSA, Pillar 3 disclosures, and other key Solvency II issues.

Insurance Banana Skins is piece of research conducted by the Centre for the Study of Financial Innovation (CSFI), an independent think tank, that is sponsored by PwC. It's a survey of insurers and seeks out their views on current risk and future trends.

This is the fourth edition of Countdown to Solvency II. It features articles on UK and German regulation, project management for multinationals, data and systems, and governance.

This paper summarises the responses to the Discussion Paper issued in May 2007 received by the IASB and considers other recent developments affecting the project.

The move to a harmonised International Financial Reporting Standard (IFRS) for insurance Contracts (IFRS Phase II) is gathering pace in the lead up to the expected final consultations in late 2009 and a final standard in 2011.

This is the 3rd edition of Countdown to Solvency II from our international Solvency II team. It examines how to make the most of QIS 4 and view it as an opportunity to understand the commercial implications of Solvency II.

This is the 3rd edition of Countdown to Solvency II from our international Solvency II team. It examines how to make the most of QIS 4 and view it as an opportunity to understand the commercial implications of Solvency II.

The paper has been prepared by our PwC Solvency II professionals and provides an overview of the draft directive proposals along with a checklist of readiness and milestones which we hope will help companies carry out an initial impact assessment and prepare implementation plans.

International Financial Reporting Standards is much more than just a technical issue and, based on the current proposals, will result in fundamental changes to the way in which the industry does business.