G2 - Solvency II Reforms
The objectives of the review of UK Solvency II are respectable and ambitious, but are we on the right path to realising them? Over April to July 2022 a comprehensive package of reforms from HM Treasury shaping the future of UK prudential regulation has been consulted upon.
We will share findings from our analysis of the reforms proposed in the April 2022 consultation and the likely direction of travel. Changes in the risk margin and matching adjustment have important implications for product pricing, capital management, reinsurance, internal models and many other areas. We will cover both technical and political perspectives.
We expect the following delegate learning outcome/experience:
- Set out the review objectives and describe the events leading up to the review and the envisaged next steps, ensuring up-to-date knowledge of these important developments to allow delegates to form opinions and reflect on their preparedness.
- Describe the main areas of tension and debate in the review, focusing on the methodology and calibration underlying the matching adjustment, to encourage discussion and further reflection among delegates.
- Share results of our analysis based on a large sample of UK life insurers so that delegates can see the estimated effects at an industry level.
Speakers: Kenneth McIvor and Anthony Plotnek, WTW