Helping you navigate the current hot topics in the UK insurance market
Current Issues in Insurance - Summer 2018
09 Jul 2018
As we soak up the wonderful British sunshine, we’re delighted to share with you the latest edition of current issues in insurance – our quarterly publication in which our team of insurance specialists share their insights into some of the current hot topics in the UK insurance market.
Much like the sunny weather, there is no sign of let up in the pace of change in the UK insurance industry. Just in the month of June we’ve seen some big news – the announcement that Equitable Life has agreed to transfer the Society and all its policies to Reliance Life (part of the LCCG Group), and at the end of June the FCA issued its long-awaited review of the retirement market post freedom and choice.
In this edition of current issues in insurance we have a diverse range of articles and blogs for you to choose from – covering Brexit, IFRS 17, wearable devices, the recent FCA retirement outcomes review and longevity.
Thank you again to all those who attended our Annual Life and Financial Services drinks reception in May at the Postal Museum in London. It was great to spend time with so many friends and colleagues in one room. We’re already planning our Annual Life & Financial Services seminar which will take place on Wednesday 3rd October, so please do save the date.
And finally (but by no means least) we would like to congratulate our Head of Products, Karen Brolly, on her recent promotion to Partner within Hymans Robertson – a fantastic achievement.
Enjoy the remainder of the summer, and we look forward to seeing you all soon.
What does the future hold for insurance supervision in the UK?
Given the current uncertainty around Brexit, the PRA has stated it can see no way to "implement change" around the Risk Margin. Andrew Scott and Alex Davis look at the Risk Margin and the Matching Adjustment calculation, and consider how the PRA’s approach to these may evolve.
A slowdown in UK longevity improvements has become universally acknowledged. Increasingly life insurers are under pressure from shareholders and analysts to reflect this in reserving and release capital for dividends. But how much do we really know about this slowdown?
7 ways IFRS 17 could impact reinsurance
As insurers get to grips with the requirements of IFRS 17, reinsurance is an area many are finding has some interesting and perhaps unexpected implications. This document explores 7 ways IFRS 17 could impact reinsurance.
YE17 solvency coverage ratios
As firms disclose their second set of annual accounts under Solvency II, members of our team reflect upon the 2017 performance and activity disclosures, and consider what may be coming next.
Why wearables are no gimmick in the quest for wellness
In this blog Richard Purcell and Liam Mohan look at whether wearable devices are just a gimmick or have a meaningful impact on physical activity levels which can be sustained over the longer term.
Hot off the press...freedoms and responsibilities
Karen Brolly and Ailsa Dunn comment on proposed measures set out in the FCA’s recently issued Retirement Outcome Review final report.
Buy-in monitoring service
In the latest edition of our buy-in monitoring service, we share our usual pricing analysis as well as providing an insight into the latest buy-in activity and how we anticipate this will develop as the year progresses.
IAS19 assumptions report
FTSE 350 companies support £800bn of defined benefit pension liabilities, with a combined market capitalisation of £2,600bn. Our annual IAS19 assumptions report helps analyse the key assumptions adopted by the FTSE 350 for their defined benefit pensions disclosures as at 31 December 2017 in order to gain a market wide perspective.