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Ernst & Young Global Insurance Center - Ernst & Young - Global

Responding to new market dynamics

Your industry faces increasingly complex regulatory issues — issues that challenge the way you manage your risk, operations and financial reporting.

Insurance companies come to Ernst & Young because they value our approach to meeting their assurance, tax, transaction and advisory needs. We don’t just know the issues, we’ve analyzed what’s behind them to understand the impact they have on you — and the way you do business.

The Global Insurance Center makes this possible by bringing together people and ideas from across the world, to help your business address the issues of today — and tomorrow. We can help you manage risks and make the most of opportunities in emerging markets.

Our network of professionals provides broad experience to deliver seamless, consistent, high-quality services to insurers. So you can operate your business more effectively —and understand what’s ahead for your industry.

Obama’s regulatory overhaul and its impact on the insurance industry

The administration’s June 18, 2009 white paper outlines financial services regulatory reform and will have an impact on the insurance industry. Given the magnitude of the reforms, insurers need to be aware of the implications that the evolving regulations will have for their business.

Solvency II: Putting risk and governance at the heart of business

The adoption of the Solvency II framework directive by the European Union’s Economic and Financial Affairs Council on 5 May brings the proposed economic, risk-based capital regulatory regime one step closer to reality. Significant challenges lie ahead for insurers in developing the proper framework to support their businesses within the implementation timeline. In this paper, we examine the importance of Pillar 2 and its implications (pdf, 148.8kb).

Second annual business risk report — insurance 2009

Global financial market events have created unprecedented challenges for the insurance industry. Risks are inherent in every forward-looking business decision and therefore, successful risk management should be an integral part of an organization’s strategy and operations. The economic downturn has taught us that the most important risks are the ones we did not see or anticipate. Read the top 10 risks most likely to affect the insurance sector during 2009 (pdf, 583kb).

IASB review measurement approach for insurance contracts

On 18 June 2009, the IASB will meet to re-evaluate the candidate measurement approaches for insurance contracts discussed to date. In July 2009, the IASB and FASB will be asked to choose a measurement approach. A summary of topics discussed, and tentative decisions made to date are included in the June Insurance accounting alert (pdf, 245kb).

Revenue recognition in insurance contracts

This thought leadership paper (pdf, 7.4mb) presents our perspective on the impact of proposed new revenue recognition standards on insurance contract accounting, published as a result of the joint IASB and FASB December 2008 discussion paper, “Preliminary Views on Revenue Recognition in Contracts with Customers."

Planning strategies for the tax-efficient movement of capital

The efficient movement of capital is now more important, given the economic events in recent months that are contributing to greater corporate transparency. Over the past several years, as the insurance industry has become more global, companies have begun to challenge their operating models with a focus on the use and deployment of capital. Read Planning strategies for the tax-efficient movement of capital (pdf, 331kb).

A way forward: insurance mergers & acquisitions

The financial crisis has altered the landscape for insurance mergers and acquisitions (M&A) leaving the industry in flux. These unprecedented conditions are   likely to create great opportunities, but there are also significant risks, requiring a clear investment valuation and due diligence. Read A way forward: insurance mergers & acquisitions (pdf, 337kb) to learn more.

2009 insurance industry outlooks

In a continually evolving economic climate, there is a greater need for insurance companies to work strategically to achieve their growth objectives. Ernst & Young discusses the key issues facing the insurance industry this year in these reports


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More insurance industry thought leadership

Video feature: Are you ready for IFRS?

Global Insurance IFRS Leader James Dean comments about the future of financial reporting in the US and around the world.   
Watch video clips now.


Cover: Industry 360 Vol IV

 Industry 360º,
 Volume IV in print
 and online

The financial crisis. Climate change. IFRS. Read our points of view on these hot topics and more -- in print (4.6mb) or visit Industry 360° online.

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