5.45 pm - 6.00 pm: Tea and coffee registration
6.00 pm - 7.15 pm: Event
A review of the Risk Margin – Solvency II and beyond (Discussion of report from the IFoA Risk Margin Working Party)
The risk margin has proven a controversial element of the Solvency II balance sheet, particularly for long-tailed business such as annuities, and has contributed to insurers transferring large volumes of longevity risk outside of the EU regulatory system.
The IFoA working party on the risk margin was formed to take a step-back and to report on:
- The origins of the risk margin
- The characteristics of a desirable risk margin and how the Solvency II approach measures up
- Reforms that could be made within the forthcoming Solvency II review and their pros and cons
- The potential for more fundamental reform, drawing on approaches from International Capital Standards, IFRS and non-EU regimes
The working party’s final report was presented in 2019, and this meeting will summarise the key findings – and we would love to hear your views.
Paul is a Principal at Milliman, specialising in asset-liability and capital management. Prior to joining Milliman in 2018, he spent 18 years in the investment banking sector providing derivative and capital market solutions to insurers across Europe. Professionally Paul is a member of the Life Board of the Institute and Faculty of Actuaries and in 2015-18 chaired the Life Research Committee.
Deep Dive: This is a Deep Dive Event.