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The Actuary The magazine of the Institute & Faculty of Actuaries

Third Guy Carpenter Solvency II report examines risks to cedants

The third installment of global risk and reinsurance specialist Guy Carpenter’s series of special reports preparing (re)insurers for Solvency II has been published.

Following the first two reports which addressed (re)insurance industry requirements and key issues under Solvency II, the third - entitled ‘Succeeding Under Solvency II’ - examines potential risks to cedants, strategies for managing counterparty default and credit risks, and positive developments for cedants.

Peter Stubbings, managing director at Guy Carpenter & Company, commented: "Solvency II is an ambitious undertaking, with the ultimate goal of making the global insurance industry more transparent and robust. As to be expected of initiatives of this scale, the new regulatory program has met its share of resistance and criticism, resulting in a gradual dilution of requirements and lengthening of deadlines to soften the impact. Nevertheless, the most prudent companies are well underway in their preparations for the official January 2013 implementation date of the new regime."

The full report can be found at www.gccapitalideas.com.