The earthquake insurance penetration level remains fairly low in Japan despite its frequency for such disasters, according to Impact Forecasting, Aon Benfields catastrophe model development team.
General insurance firms are resilient against events that affect the market, according to a stress test conducted by the Prudential Regulation Authority (PRA).
Reinsurance scheme Flood Re has been authorised to operate by the Prudential Regulatory Authority and the Financial Conduct Authority with effect from today.
Life insurers should not transfer longevity risk to reinsurers in an attempt to lower capital requirements under Solvency II, according to the Prudential Regulation Authority (PRA).
Reinsurance scheme Flood Re has unveiled its first plan detailing how it will work with partners to enable lower prices and excesses to be offered to consumers by the time it comes to an end in 2039.
Islamic insurance offers London a chance to become a leading global Islamic financial centre outside Islamic nations, but products need to be Shariah-compliant, an event was told.
Aviva, Prudential and Society of Lloyds are among a group of UK large insurers to have secured approval from the Prudential Regulation Authority (PRA) to use internal or partial internal models under the Solvency II directive.
The Bank of England (BoE) has announced that tomorrow (5 December) it will publish a list of insurers whose internal or partial internal models have been approved for Solvency II.
