After the crisis: the new regulatory environment

One of the key lessons from the financial crisis is that regulations need to better reflect the globalisation that has occurred in the financial sector in recent decades. The fragmented network of regulatory regimes that exists today cannot cater to the international character of the world’s large insurance and reinsurance companies.

The insurance and reinsurance industry continues to face tremendous challenges in the years ahead. The ever-changing risk landscape and regulators’ and shareholders’ demands for greater transparency will require the industry to give ever greater detail on its operations. A regulatory framework is required that instils and preserves confidence in the financial health of the industry while accommodating its unique characteristics and global needs. Steps towards this global approach are underway, even if there is still a considerable distance to go.

From a regulatory perspective, the insurance and reinsurance industry faces substantial changes in many of the major markets. In the United States, where insurance supervision is state-based, the industry has been trying hard to modernise the overall regulatory framework. In Europe, Solvency II and similar frameworks like the Swiss Solvency Test (SST) have introduced a more holistic view of all risks. Solvency II will rely on market-consistently valued assets and liabilities. By setting the path towards a economic and risk-based regulation, regulatory frameworks like these set a new benchmark for other countries to follow.


Insuring the future for Europe:...

The priorities set by the European Commission reinforce Swiss Re's view on how the insurance industry can help insure the future for Europe.

Read the whole story

Swiss Re at WEF 2014

Building resilience requires many components, including country risk management and food security.

Read the whole story


Write a comment

Comment Policy
(All fields marked with * are mandatory)

In our ongoing efforts to improve the quality and relevance of our publications, we would like to know more about you.

*mandatory

Interested in subscribing to our content? Visit our subscription page

Remember me

We use cookies to gather information that will help us provide the best possible service. By using this site, you are accepting our cookie policy.

In our ongoing efforts to improve the quality and relevance of our publications, we would like to know more about you.

* required fields

Interested in subscribing to our content? Visit our subscription page.

Close
Close

Show local contact for:

SWITCHBOARD

  • Zurich +41 43 285 2121
  • MUNICH+49 89 3844 0
  • HONG KONG+852 2827 4345
  • LONDON+44 20 7933 3000
  • ARMONK+1 914 828 8000
Show Location

Subscribe to Newsletters

Subscribe to Newsletters