Insurers currently use a variety of different and largely inconsistent local approaches to measure the value of insurance contracts within their statutory financial statements. This diversity makes it difficult to compare companies and may fail to reflect the true economic value of insurance business, which can put insurers at a considerable disadvantage when competing for capital.
Sophisticated rating capabilities are rapidly becoming the new normal for P&C carriers. Today’s rating solutions provide advanced usage-based models and other analytics that can help carriers thrive in a market being transformed by telematics and new pricing strategies. But many carriers have stumbled on the path to modernization. We explore the most common challenges, and discuss four steps carriers are taking to make the most of their rating modernizations.
In this recorded webcast, Jean Connolly summarizes the recent developments of the short and long-term projects of the NAIC with a focus on decisions reached at the 2014 NAIC Spring National Meeting (March 28-31, 2015).
The insurance industry is facing once-in-a-generation disruption. Top Insurance Industry Issues in 2015 discusses the challenges and opportunities confronting insurers, and provides insight on how to adapt to change.
In this webcast recording, Jean Connolly summarizes the recent developments of the short and long-term projects of the NAIC with a focus on decisions reached at the 2014 NAIC Fall National Meeting (November 2014). The webcast also highlights the activities of some of the committees, task forces and working groups of the NAIC.
At the present time, no two developments in the insurance sector seem more entwined than risk and regulation, and nowhere is this interaction more evident than in developing regulatory expectations for insurers’ boards of directors. While regulators still seem far apart in their search for a single global capital regime, they are much closer to a consensus on terms of governance.
The National Association of Insurance Commissioners held its Summer National Meeting in Louisville from August 16 to 19. This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met there.
What are the latest comparable statistics for mergers and acquisitions and active trades in the financial services industry? Check out PwC's quarterly valuation summaries for the Banking, Insurance and Asset Management sectors. Insights include: trends in market multiples, related transactions, and transaction benchmarking analysis.
The National Association of Insurance Commissioners held its Spring National Meeting in Orlando, FL from March 27 to April 1. This newsletter contains information on activities that occurred in some of the committees, task forces and working groups that met there.
Hurricane Sandy is expected to be the second-costliest Atlantic hurricane in history, only surpassed by Hurricane Katrina in 2005. Many businesses were disrupted by Hurricane Sandy and its aftermath including the New York Stock Exchange, which was closed for two days. While not all-inclusive, this Dataline discusses several accounting and disclosure-related matters companies may encounter in dealing with the financial reporting implications of Hurricane Sandy.