Solvency II in the UK: Evolution Rather than Revolution

2017 ◽  
pp. 109-127
Author(s):  
David Humphry
Keyword(s):  
Solvency Ii ◽  
The Uk

scholarly journals A review of the risk margin – Solvency II and beyond

2020 ◽  
Vol 25 ◽  
Author(s):  
A. J. Pelkiewicz ◽  
S. W. Ahmed ◽  
P. Fulcher ◽  
K. L. Johnson ◽  
S. M. Reynolds ◽  
...  
Keyword(s):  
Cost Of Capital ◽  
Working Party ◽  
Solvency Ii ◽  
Risk Margin ◽  
Life Insurers ◽  
Wide Range ◽  
The Difference ◽  
Set Up ◽  
The Uk ◽  
The Impact

Abstract For life insurers in the United Kingdom (UK), the risk margin is one of the most controversial aspects of the Solvency II regime which came into force in 2016. The risk margin is the difference between the technical provisions and the best estimate liabilities. The technical provisions are intended to be market-consistent, and so are defined as the amount required to be paid to transfer the business to another undertaking. In practice, the technical provisions cannot be directly calculated, and so the risk margin must be determined using a proxy method; the method chosen for Solvency II is known as the cost-of-capital method. Following the implementation of Solvency II, the risk margin came under considerable criticism for being too large and too sensitive to interest rate movements. These criticisms are particularly valid for annuity business in the UK – such business is of great significance to the system for retirement provision. A further criticism is that mitigation of the impact of the risk margin has led to an increase in reinsurance of longevity risks, particularly to overseas reinsurers. This criticism has led to political interest, and the risk margin was a major element of the Treasury Committee inquiry into EU Insurance Regulation. The working party was set up in response to this criticism. Our brief is to consider both the overall purpose of the risk margin for life insurers and solutions to the current problems, having regard to the possibility of post-Brexit flexibility. We have concluded that a risk margin in some form is necessary, although its size depends on the level of security desired, and so is primarily a political question. We have reviewed possible alternatives to the current risk margin, both within the existing cost-of-capital methodology and considering a wide range of alternatives. We believe that requirements for the risk margin will depend on future circumstances, in particular relating to Brexit, and we have identified a number of possible changes to methodology which should be considered, depending on circumstances.

scholarly journals Risk and Equity Release Mortgages in the UK

2020 ◽  
Author(s):  
Tripti Sharma ◽  
Declan French ◽  
Donal McKillop
Keyword(s):  
Social Care ◽  
House Price ◽  
Solvency Ii ◽  
Capital Requirements ◽  
Ageing Population ◽  
Housing Wealth ◽  
Policy Debates ◽  
Price Growth ◽  
The Government ◽  
The Uk

Abstract Accessing elderly housing wealth through equity release mortgages (ERMs) continue to be the focus of policy debates about how to pay for social care and how to support retirement incomes in the UK. We demonstrate in this paper that the spatial concentration of this market in just a few regions is not due to demand but to the risks faced by suppliers. We show that by ignoring regional variations in No Negative Equity Guarantee risk in national pricing models providers cannot profitably supply these products outside areas of high house price growth. We also show that EU Solvency II capital requirements provide a further disincentive to supply ERMs in these areas. Government subsidies to product provision are also modelled and shown to be infeasibly high. We therefore conclude that the government policy focus on equity release as a means of tackling the challenges of an ageing population is misplaced.

The diagnosis and management of factor VIII and IX inhibitors: a guideline from the UK Haemophilia Centre Doctors' Organization (UKHCDO)

2000 ◽  
Vol 111 (1) ◽  
pp. 78-90 ◽  
Author(s):  
C. R. M. Hay ◽  
T. P. Baglin ◽  
P. W. Collins ◽  
F. G. H. Hill ◽  
D. M. Keeling
Keyword(s):  
Factor Viii ◽  
Diagnosis And Management ◽  
Viii And Ix ◽  
The Uk

1476: Prostate Cancer Detection in Men Aged 45-49 Years in the UK Protect (Prostate Testing for Cancer and Treatment) Trial

2006 ◽  
Vol 175 (4S) ◽  
pp. 476-477
Author(s):  
Freddie C. Hamdy ◽  
Joanne Howson ◽  
Athene Lane ◽  
Jenny L. Donovan ◽  
David E. Neal
Keyword(s):  
Prostate Cancer ◽  
Cancer Detection ◽  
Treatment Trial ◽  
Prostate Cancer Detection ◽  
The Uk

653: The Protect (Prostate Testing for Cancer and Treatment) Study: Evaluating Screening and Treatment of Clinically Localised Prostate Cancer in the UK

2006 ◽  
Vol 175 (4S) ◽  
pp. 210-210
Author(s):  
◽  
Freddie C. Hamdy ◽  
Athene Lane ◽  
David E. Neal ◽  
Malcolm Mason ◽  
...  
Keyword(s):  
Prostate Cancer ◽  
The Uk

597 Can we use BNP and NTproBNP to rule out heart failure in clinical practice? Results of the UK natriuretic peptide study

2003 ◽  
Vol 2 (1) ◽  
pp. 131
Author(s):  
A ZAPHIRIOU ◽  
S ROBB ◽  
G MENDEZ ◽  
T MURRAYTHOMAS ◽  
S HARDMAN ◽  
...  
Keyword(s):  
Heart Failure ◽  
Clinical Practice ◽  
Natriuretic Peptide ◽  
The Uk ◽  
Rule Out

Ethnic Differences in Self-Poisoning Across South London

Crisis ◽  
2014 ◽  
Vol 35 (4) ◽  
pp. 268-272
Author(s):  
Sean Cross ◽  
Dinesh Bhugra ◽  
Paul I. Dargan ◽  
David M. Wood ◽  
Shaun L. Greene ◽  
...  
Keyword(s):  
Black Women ◽  
Data Collection ◽  
White Women ◽  
Population Based ◽  
Care Services ◽  
Self Harm ◽  
Managing Risk ◽  
The Uk ◽  
Incident Cases ◽  
Minority Ethnic

Background: Self-poisoning (overdose) is the commonest form of self-harm cases presenting to acute secondary care services in the UK, where there has been limited investigation of self-harm in black and minority ethnic communities. London has the UK’s most ethnically diverse areas but presents challenges in resident-based data collection due to the large number of hospitals. Aims: To investigate the rates and characteristics of self-poisoning presentations in two central London boroughs. Method: All incident cases of self-poisoning presentations of residents of Lambeth and Southwark were identified over a 12-month period through comprehensive acute and mental health trust data collection systems at multiple hospitals. Analysis was done using STATA 12.1. Results: A rate of 121.4/100,000 was recorded across a population of more than half a million residents. Women exceeded men in all measured ethnic groups. Black women presented 1.5 times more than white women. Gender ratios within ethnicities were marked. Among those aged younger than 24 years, black women were almost 7 times more likely to present than black men were. Conclusion: Self-poisoning is the commonest form of self-harm presentation to UK hospitals but population-based rates are rare. These results have implications for formulating and managing risk in clinical services for both minority ethnic women and men.

Childhood Intelligence Predicts Adult Trait Openness

2016 ◽  
Vol 37 (2) ◽  
pp. 105-111 ◽  
Author(s):  
Adrian Furnham ◽  
Helen Cheng
Keyword(s):  
Structural Equation Modeling ◽  
Structural Equation ◽  
Social Background ◽  
Study Data ◽  
Equation Modeling ◽  
Direct Effects ◽  
Data Set ◽  
National Child Development Study ◽  
Nationally Representative ◽  
The Uk

Abstract. This study used a longitudinal data set of 5,672 adults followed for 50 years to determine the factors that influence adult trait Openness-to-Experience. In a large, nationally representative sample in the UK (the National Child Development Study), data were collected at birth, in childhood (age 11), adolescence (age 16), and adulthood (ages 33, 42, and 50) to examine the effects of family social background, childhood intelligence, school motivation during adolescence, education, and occupation on the personality trait Openness assessed at age 50 years. Structural equation modeling showed that parental social status, childhood intelligence, school motivation, education, and occupation all had modest, but direct, effects on trait Openness, among which childhood intelligence was the strongest predictor. Gender was not significantly associated with trait Openness. Limitations and implications of the study are discussed.

Sign in / Sign up

Export Citation Format

Share Document