Climate-related risks are impacting many aspects of an insurers business. One of the tools insurers use to assess the potential impacts of risks and investigate different optimization strategies is the Own Risk and Solvency Assessment (ORSA).
There can be little argument with the scale of the challenge that the world faces from climate change, and insurers are no different. In fact, insurers face a complex challenge because climate change risk affects both sides of the balance sheet, namely assets and liabilities.
Long-term Capital Market Assumptions (CMAs) are a very important ingredient of any investment decision-making framework. However, what sometimes seems to be forgotten, is that these long-term CMAs are also very uncertain.
Calibrating Economic Scenario Generators to realistic correlation structures can be difficult and time-consuming, especially as the dimensions of the models increase.
What is data integrity, and why is a plumber urgently required? No matter the size of the company, data integrity is essential to insurers, particularly in capital modelling
Adeetya Tantia looks at how war risk exclusion clauses have been interpreted in various notable incidents – and why the industry should consider updating them
This paper is relevant for senior actuaries, finance, risk and operations people managing unit-linked business seeking to implement Solvency II unit matching at life assurance companies.
