LCP Solvency II
reporting across the UK and Ireland - 2018
Publications
Welcome to our second annual review of Solvency II reporting by 100 of the largest non-life insurers in the UK and Ireland.
We have taken a close look at the SFCRs and QRTs and have summarised the key findings for you in our report.
Our review reveals that financial strength remains generally good across the industry, but that individually some firms have seen large shifts in their capital cover over the last year. Many firms now highlight cyber as a key risk, as well as uncertainty about the impact of Brexit. Although some firms have taken the opportunity to improve the quality of their SFCRs this time around, there’s still a way to go to ensure that they are useful documents, as well as being compliant with the requirements.
Your capital model can be a powerful tool for understanding your risk profile and making better business decisions, in addition to calculating regulatory capital.
Insurance regulation has become tougher and more sophisticated. We can help you meet regulatory requirements in a way that adds value to the business.
Data has always been the lifeblood of insurance. The recent explosion in the volume of data available to insurers provides great opportunities but will also generate more intense competition.
Reserving adequacy is crucial to succeeding in the insurance market. But some of the biggest risks to your reserves are not reflected in the historical claims data.
Risk management is at the core of the insurance business. We can help you strengthen the links between strategy and risk management, increasing your chances of business success.
Our independent validation advice helps you to use your models with greater confidence and to meet regulatory requirements efficiently.
