Actuarial

How to calibrate the IFRS 17 risk adjustment to arrive at an economic value?

A generic framework for the economic valuation of Insurance Liabilities allows companies to calibrate their risk margin to reflect a truly market-consistent value.
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Evolution or revolution for Swiss insurers?

The word ‘change’ conjures up a myriad images and expectations. For some, it represents a threat. For others, it is possibility and potential. Which one it turns out to be for Swiss non-life insurers depends on how they grasp the need for transformation amid current challenges to the status quo.
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Revision of FINMA’s SST Circular

On 31 May 2016, FINMA opened the consultation phase for the new SST circular which closes on 12 July 2016. The new SST circular will replace the current SST circular 2008/44 from 1 January 2017 and is a complete revision. It includes many changes which impact the insurance industry.
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Swiss ORSA – The Insurance Market Reaction

Following the recent issue of a new FINMA circular on ORSA, KPMG Switzerland surveyed leading Swiss insurers to evaluate their response to the new requirements and assess preparedness to comply. Results varied significantly, but one thing is clear: there is still work to be done!
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Entwurf zum neuen FINMA Rundschreiben “Offenlegung”

Als Teil eines Anhörungspakets vom 8. Juli 2015 veröffentlichte die FINMA den Entwurf zum neuen FINMA Rundschreiben „Offenlegung“, welches die Details zu der Anforderung eines jährlichen Berichts über die Finanzlage von Versicherungen und Versicherungskonzernen regelt. Was sind die Auswirkungen der neuen Offenlegung?
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What is the future of the Swiss Solvency Test?

On 8 July 2015, the Swiss Financial Market Supervisory Authority FINMA put a revised package of circulars out for consultation. Many proposed changes have a direct and indirect impact on the Swiss Solvency Test (SST) and its use by Swiss insurers. The most significant impacts arise from the newly released circulars on public disclosure and ORSA.
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