Much has been written in the press about the current global credit crisis and the consequences on the real economy. We want to take a step back and take stock of what we think should be the lessons learnt from an investment practicioner's point of view in order to avoid repeating the same...

Despite isolated cases, the unprecedented crisis shows the progress of insurance industry in terms of risk management. These progresses have been fostered by development of internal models, rating agencies approaches and Solvency II discussions...