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Executive's Guide to Solvency II Hardcover – November 2, 2010

3.5 out of 5 stars 2 customer reviews

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Product Details

  • Hardcover: 194 pages
  • Publisher: Wiley; 1 edition (November 2, 2010)
  • Language: English
  • ISBN-10: 0470545720
  • ISBN-13: 978-0470545720
  • Product Dimensions: 6.3 x 0.8 x 9.3 inches
  • Shipping Weight: 13.6 ounces (View shipping rates and policies)
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (2 customer reviews)
  • Amazon Best Sellers Rank: #2,672,872 in Books (See Top 100 in Books)

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Format: Kindle Edition Verified Purchase
I am the general counsel of an insurance company in Hong Kong which is a subsidiary in an international insurance group. Hong Kong is one of the few jurisdiction which has yet to adopt a risk-based solvency regime, but that will apparently be changing soon. To get ahead of the game I thought it important to try and bone up on the subject. Hence my purchase of this book on Solvency II, which although applicable only in Europe (at least when it is implemented) does set the standard for other jurisdictions to follow. APRA's LAGIC reforms and Singapore's RBC2, do follow Solvency II (and are aimed at obtaining equivalency status), so we can see the European regime setting the global benchmark.

This book served as a great overview of what is a complicated subject. It provided a great history of the evolution and purpose of insurance regulation (and the importance of insurance) and put Solvency II in its proper context. What I particularly liked was the books keen warning that, whilst the Pillar I quantitative measures of risk based solvency are all important, Pillar II should not be forgotten as the ORSA process is something that will drive real change in the insurance industry by putting capital and risk at the heart of board's decision making. This was a mistake many of the banks made in preparing for Basel II. Insurance companies should not fall into that trap and indeed we see some countries (China, for example) proceeding first with Pillar II corporate governance reforms before introducing Pillar I.

I can give this book no greater stamp of approval than by saying that it was the heart of the research that I did for a talk on risk based solvency in Hong Kong.
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Format: Hardcover Verified Purchase
I am a CUO of a US insurance company. The book provides a good introductory summary of the major Solvency II topics and contains almost no formulae. Does not go into the same depth as other Willey offerings I have seen. Only recommended for "executives" with no familiarity with the subject. Practitioners or soon-to-be practitioners or execs with some familiarity with the topic will want to look elsewhere. Actuaries will be particularly disappointed.
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