Insurance
Malaysian central bank aims to boost use of Islamic insurance
Ibrahim tells takaful providers to leave their “comfort zone”
MAS steps in to calm job-poaching battle between insurers
Singaporean authority is concerned job-switching bonuses may be driving aggressive sales tactics
PRA’s Sam Woods rebuts 'myths' about Solvency II
Directive has neither “crushed growth” nor driven up prices, Woods argues; regulator will form subcommittee to discuss challenges with participants
Interest rate risk could be seed of next crisis – economists
Financial markets may have underestimated the persistence of low rates, and regulations have amplified the threat, say Srichander Ramaswamy and Philip Turner
A dangerous unknown: interest rate risk in the financial system
Urgent action is needed to tackle the little-understood build-up of interest rate risk in the global financial system; macro-pru tools still inadequate to tackle the issue
Technology consultant of the year: Vizor Software
The Dublin-based company continued to grow its client base in 2017, proving its mettle in emerging markets, with the addition of Brunei’s central bank and the Zambian pensions and insurance regulator
BoE’s Woods warns of ‘point of tension’ in Brexit negotiations
PRA chief fears EU supervisors may adopt a local mindset when dealing with cross-border firms
BoE sets out post-Brexit supervision plans
Central bank says UK will aim to stay open as banks, insurers and CCPs are brought under the PRA’s oversight; changes imply heavy workload for the supervisor
BoE warns high court of insurance Brexit fallout
UK central bank expects number of insurers filing court claims to be three to five times the “normal level” following Brexit
Most UK banks withstand ‘disorderly Brexit’ stress tests – BoE
Majority of banks unfazed by tests “more severe than the financial crisis”, but a few struggle with lingering issues
EBA and US agencies agree framework for cross-border resolution
Document lays out principles for information sharing and future crisis management agreements
Irish central bank updates minimum competency standards
Mortgage institutions must give board members annual training; the move brings regulations into line with updated European laws
European yield curve calculation regulations should change, ESRB says
Last liquid point, ultimate forward rate and convergence point should all change, report argues
European insurance resolution needs major reform – ESRB
Insurance sector’s contribution to systemic risk has increased but current tools are insufficient, report says
How to divest public sector assets
Exit programmes for public sector assets could create uncertainty through supply/demand imbalance, but a tap facility – a private sector triggered exit programme – could be the solution, writes Hon Cheung, chief investment strategist, official…
France should broaden macro-prudential oversight – FSB report
Country should widen its outlook to include asset managers and other risky areas, a peer review finds; report recommends action to boost communication and disclosure
PRA urges insurers to act on ‘silent cyber’ risks
Watchdog urges underwriters to embrace cross-policy stress-testing to identify exposure to claims from non-specified risks
Eurozone’s non-bank sector taking more risks – ECB
Insurers and investment funds moving to higher-risk assets
BoE’s PRA should clarify approach to insurance, report says
Report asks Prudential Regulation Authority to review boundaries of “policyholder protection”, warning the regulator not to stray into the FCA’s territory
Right culture is vital for insurance firms – Irish regulator
Sylvia Cronin says proper approach cannot be “regulated into existence”
European agencies see pitfalls in growing big data use
Financial products likely to become more tailored to consumers, but that will not benefit everyone, regulators warn
Bank of Ireland’s Cronin spells out Brexit process for insurance firms
“Hearts and minds” have to be in Ireland, says director of insurance supervision; 2017 will reveal the “reality” of Brexit, she says
Big data could create divisions in society – FCA’s Bailey
UK FCA chief says in some ways more accurate modelling of behaviour is a good thing, but it could also be damaging in terms of access to insurance for some groups
Lowe stresses the importance of financial buffers
“Skimping” on buffers is not worth the risk, says RBA governor, stressing stronger ones promote stability and prosperity