Responding to new market dynamics | Obama’s regulatory overhaul and its impact on the insurance industryThe 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 businessThe 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 2009Global 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 contractsOn 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 contractsThis 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 capitalThe 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 & acquisitionsThe 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 outlooksIn 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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Contacts If you have a specific service need or inquiry, please contact one of our Insurance professionals. Features Related topics 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.
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and onlineThe 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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