Our review of the Solvency II reporting produced by 100 of the largest non-life insurers in the UK and Ireland
Firms are still finding their feet in the first year of public reporting under Solvency II (Pillar 3). The Solvency and Financial Condition Reports (SFCRs) and supporting Quantitative Reporting Templates (QRTs) provide a window into the inner workings of insurers. We’ve peered in, and gained insights into the financial strength of insurers in the UK and Ireland, how they run their businesses, and how they communicate with the outside world.
We have analysed the SFCRs and public QRTs for 100 of the top non-life insurers in the UK and Ireland.
Our conclusion is that financial strength is generally good, but firms can do more to improve the quality and value of their public reporting. This will not only show that they take compliance seriously, but also help develop another tool in their arsenal to positively promote their business to key stakeholders.
How we can help
We work with insurers to help them better understand and manage the risks they face and their capital requirements.
We help organisations to unlock business value from their Solvency II processes.
LCP InsurSight is an analytics and automated trend identification tool for general insurance companies.
We provide an alternative, external view on the best estimate level of reserves for insurers and also help them understand the key drivers of variability around that best estimate.
We help our insurance clients to develop strong links between their strategy, capital management and risk management processes, improving their chances of business success.
Our business-focused approach to validation can help you be confident that your insurance models are robust, and that you are meeting regulatory requirements.