Primary responsibility for risk and risk management with the business, Responsibility for risk management assigned to individual "risk owners", Support to and control of the business by specialized expert functions...

Explicit guarantees are good for shareholders, policyholders and regulators: increased transparency. The risk management of capital market risks embedded in life (re) contracts is non-trivial. A bank-like operation (hedging platform) is needed for quantification, hedge design and controlling of...

On a Macro level - learn to manage a multigenerational work force! Ensure open communication. Honestly adress concerns. Being open and transaprent will go a long way to flushing out issues and retaining your best people. Respect the different values held by different age groups. This simply...

Economic approach (diversification benefits) in line with Solvency II conceptual framework. Same level of protection to policy holders with a given level of capital across the group. Mechanism enhancing capital mobility within a group. Alignment with the way groups are effectively managed...

Basic model, Measurement Approaches, Other major issues; Solvency II, Timing and other projects...

Swiss Re defines Operational Risk in line with Basel II banking regulations as the "Expected and unexpected economic impact of inadequate or failed internal processes, people, and systems or from external events...

The CRO Forum has embarked on an initiative to identify best risk practices and sharing our views through a series of publications with the hope to strengthen risk management practices in the (re)insurance industry and improve the knowledge of risk professionals glaobally...

Mass litigation, risk and losses, short and long term; Globalisation of mass litigation; Mass litigation game; Mass litigation development risk: Time dimension and interaction...

Why was risk management not effective in preventing financial institutions from bubbles in the past? 1. Because the emerge of the bubbles were not recognized at all. 2. Because risk managers did not have sufficient authority to stop the nonsense....

Is a world-wide convergence of regulatory regimes desirable/necessary? 1. Yes, to achieve a level playing field. 2. Yes to reduce systemic risk, 3. I am indifferent...