Regulation

An Own Risk and Solvency Assessment (ORSA), is an internal process undertaken by an insurer or insurance group to assess the adequacy of its risk management and current and prospective solvency positions under normal and severe stress scenarios. Globally, ORSA regimes are now in force or under development in most of the significant insurance markets worldwide. In Europe, the ORSA is part of Solvency II as a key component of Pillar 2.

Bogie Ozdemir, Vice President at Sun Life Financial where he is developing enterprise ORSA, provides a straightforward approach to the understanding, management, and implementation of this requirement. You will learn how to build a practical implementation plan, utilise existing resources and capabilities to support your ORSA, and learn how to manage the business impact and benefits of ORSA implementation.

Take a look at a sample from the book, get the Preface and Chapter One here.

Collateral management in monetising assets has never been more important, policy makers recognising this fact have started to pay increased attention to the complex collateral plumbing that is fundamental to lending and enabling growth in the economy.

Use this book to make sure your collateral management is at its most effective. Discover the importance of financial plumbing, gain a practical understanding of how financial collateral moves across jurisdictions and also how to navigate the future as rules and regulations for the global financial markets are redrawn.

"...This book weaves a rich and unique tapestry of a complex subject in an accessible manner."
Patrick Pearson, Acting Director of Financial Markets, European Commission

Collateral and Financial Plumbing 2nd Impression is coming soon. Find out more here.

Under the Solvency II directive, insurance companies are required to calculate their Solvency Capital Requirement (SCR) in order to prove to supervisors, policyholders and beneficiaries that they have a high enough level of funds to absorb significant losses and to make payments as they fall due. They have a choice between a standard formula and an internal model in calculating their SCR.

Many companies favour internal models as they are more risk-sensitive, capture individual risk profiles and therefore reduce the capital requirements placed on insurance companies by Solvency II. However, internal models are subject to approval by supervisory bodies. Insurance companies need to demonstrate that their internal model meets the use test, statistical quality standards, calibration standards, validation standards and documentation standards.

Internal Models and Solvency II is the first authoritative reference book on Solvency II internal models for practitioners and regulators, providing practical insight into these models and their frameworks.

Take a look at the Foreword and Introduction here.

“Each chapter has been written by experts in the topic, individuals with hands-on experience of designing, validating, reviewing and using models. They share their experience here, and bring alive the requirements of Solvency II through practical insight.”
From the foreword by Gabriel Bernardino, Chairman, European Insurance and Occupational Pensions Authority (EIOPA)

This is the survival guide for trading in a world where high-frequency trading predominates in markets, accounting for upwards of 60% of trading in equities and futures, and 40% in foreign exchange. High-frequency trading is the subject of extensive debate, particularly as to whether it is beneficial for traders and markets or instead allows some traders to benefit at others expense. This book provides you with an important overview and perspective on this area, with a particular focus on how low-frequency traders and asset managers can survive in the high frequency world.

“The concept of high-frequency trading too often evinces irrational fears and opposition.  This book, by experts in the field, unveils the mysteries, records the facts and sets out the real pros and cons of such mechanisms.”

Charles Goodhart, Fellow of the British Academy, and Emeritus Professor at the London School of Economics.