Reinsurance News’ Post

The European Insurance and Occupational Pensions Authority (EIOPA) has published the results of a stress test, which assessed European insurers’ ability to manage the economic and financial fallout from a resurgence of geopolitical tensions.

The growing use of innovative “funded” or “asset-intensive” reinsurance structures by life insurance companies has attracted regulatory attention, particularly in light of the expanding pension de-risking market. #Pensions #Regulation #PRT

M&G plc has launched a Value Share Bulk Purchase Annuity proposition by completing a £500 million transaction with a private Corporate Sponsor and its UK Pension Scheme, insuring around 3,200 pensioner and deferred members.

The European Insurance and Occupational Pensions Authority (EIOPA) published its supervisory statement on the supervision of reinsurance concluded with third-country reinsurers. The objective of this supervisory statement is to highlight the risks stemming from the use of reinsurance provided by reinsurers operating under regulatory regimes not recognized as equivalent to Solvency II. Some parts of the statement, where relevant and explicitly stated, apply also to reinsurance arrangements with reinsurers from equivalent third countries. #eiopa #insurance #reinsurance #solvencyii #sii https://lnkd.in/ekxaBNBN

LTAFs remain a controversial topic for pension funds and insurers - The advent of Long-Term Asset Funds (#LTAFs) remained an issue of contention among the participants - and the audience - in the opening panel discussion at the Private Markets Investor | Europe 2024 event in London last week, with the panellists being almost entirely in their favour. However, there was more scepticism from the audience. The discussion, which was titled “The advent of pension innovations – CDCs, LTAFs, and pension consolidators – and insurance solvency reforms: What is the opportunity and outlook for greater investment in illiquid assets, and what are the operational hurdles?”, focused on prospects for reform and new ideas coming down the pipeline. Panellists were Mike Chappell, Co-Head of Private Markets at Phoenix Group, STEPHEN TILEY, Pension Funds Manager and Trustee Director at WHSmith, Bob T. of Credit Risk at Hymans Robertson, and James Monk, Investment Director at Fidelity International, and they conferred over the issue in a lively discussion. Read more at the link below. #investmentoperations #privatemarkets #pensionconsolidation #illiquidassets #insurance #pensionfunds

PRESS RELEASE 📢 K3 Advisory, the pension market’s only specialist independent #bulkannuity and consolidator advisory business, and market leading end-game advisory business to the #fiduciarymanagement market, today announced the launch of a new buy-in to buyout service for bulk annuity transactions specifically designed with small to medium schemes in mind. Read the full #pressrelease here 👉 https://lnkd.in/ernXBWn9 #pensions #investments

The European Insurance and Occupational Pensions Authority (EIOPA) has opened a consultation regarding the criteria based on which national supervisors may request (re)insurers and insurance groups to perform macroprudential analysis in their Own Risk and Solvency Assessments (ORSA) and in their application of the Prudent Person Principle (PPP). The Consultation Paper proposes both quantitative and risk-based criteria to determine which undertakings and groups should consider macroprudential elements in their ORSA and in how they apply the PPP. The quantitative criterion foresees a threshold of €12 billion in total assets, which aligns with the criteria used in identifying undertakings for financial stability reporting. #insurance #solvencyii #sii #ORSA #PPP #consultation https://lnkd.in/eiip724h

On July 2, the European Insurance and Occupational Pensions Authority (EIOPA), in accordance with Article 29, paragraph 1, letter a) of Regulation (EU) 1094/2010, published an opinion on captive insurers con its website, with particular attention to intragroup operations and the application of the “prudent person principle”. The document is addressed to the competent supervisory authorities to contribute to the convergence of supervisory expectations within the EU, and aims to facilitate the proportionate and risk-based supervision of captive insurance undertakings, hence undertakings held by the parent company to insure its own risks while benefiting from reduced costs (Art. 13, paragraph 2 and 5 of the Solvency II-Directive). In the opinion, EIOPA lines out multiple supervisory expectations in various areas, specifying, for example, that supervisory authorities should, inter alia, (i) ensure that the classification of activities as lending or otherwise is not arbitrary, and also (ii) guarantee that captive insurance undertakings comply with the prudent person principle by assessing the portfolio as a whole considering various parameters such as liquidity and availability. Info: Giovanna Aucone #insurance #EIOPA #regulation https://lnkd.in/d6wRcRDS

In our latest article, Mark van den Berghen and I explore if UK DB pension schemes are facing a bottleneck in their journey to secure bulk purchase annuities. With timelines accelerating, many schemes are nearing the finish line. But with new hurdles ahead, how will the market develop over time for those waiting to transact? https://lnkd.in/dKM7eaka

📑 The European Insurance and Occupational Pensions Authority (EIOPA) recently issued an opinion on the supervision of captive (re)insurance undertakings (“captives”) to guide National Competent Authorities (“NCAs”) with the supervision of these undertakings. The guidance specifically relates to intra-group transactions and governance arrangements. Find out more 👉 https://lnkd.in/g7vZ_Vu6 Nuala Crimmins #Insurance