SlideServe
Télécharger Obtenir Pro
Menu
Accueil Pro
Préférences
ApparenceLight Aide et commentaires
© SlideServe · v2026

The Impact of SAM on Niche and Small Insurers: Insights from the 2012 Insurance Conference

brooke-stafford avatar
brooke-stafford
19 diapositives · 321 Views · Nov 27, 2014

Presented by Nico Esterhuizen at the South African Insurance Association's 2012 Conference, this discussion explores the implications of the Solvency Assessment and Management (SAM) framework on niche and small insurers in South Africa. It covers key topics such as the drivers and challenges posed by SAM, potential impacts like increased capital requirements and operational expenses, and governance frameworks. Analyzing the emerging landscape for insurers, the presentation highlights the importance of improved risk management and transparency amid evolving regulatory standards.

#the impact of sam on niche and small insurers: insights from the 2012 insurance conference #the impact of sam on niche and small insurers: insights from the 2012 insurance conference ppt #powerpoint #presentation
The Impact of SAM on Niche and Small Insurers: Insights from the 2012 Insurance Conference - slide 1
01 / 19The Impact of SAM on Niche and Small Insurers: Insights from the 2012 Insurance Conference
1 / 17

Télécharger la présentation

The Impact of SAM on Niche and Small Insurers: Insights from the 2012 Insurance Conference
Une image / un lien ci-dessous est fourni (tel quel) pour télécharger la présentation

Politique de téléchargement : le contenu du site vous est fourni TEL QUEL pour votre information et votre usage personnel ; il ne peut être vendu, concédé sous licence ni partagé sur d’autres sites sans l’accord de son auteur.Le contenu vous est fourni TEL QUEL, pour votre information et votre usage personnel uniquement. Téléchargez la présentation en cliquant sur ce lien. Lors du téléchargement, si vous ne parvenez pas à télécharger une présentation, l’éditeur a peut-être supprimé le fichier de son serveur.Pendant le téléchargement, si vous ne parvenez pas à obtenir une présentation, le fichier a peut-être été supprimé par l’éditeur.

F I N

Plus de contenu associé

Transcription de la présentation

  1. Titel hier presented by John Doe Date here SOUTH AFRICAN INSURANCE ASSOCIATION

  2. The potential impact of SAM on niche and small insurers presented by Nico Esterhuizen Programme Manager: SAM nico@saia.co.za The Insurance Conference 2012

  3. Discussion Points • Understanding small and niche insurers • Impact of SAM • Drivers and challenges • Unknowns

  4. World Insurance Market and Prudential Changes 1.08% = $20bn

  5. Rankings in Insurance Market SA ranking: Nr. 22

  6. Niche Insurers

  7. Captives Insurers

  8. Small Insurers

  9. Impact, Drivers and Challenges

  10. (Potential) impact of SAM • Merger and acquisitions • Move to cell-captive environment • Insurers further de-risk their asset allocations • Reduced competition in higher risk insurance products • Increase in absolute MCR: R15m • Increase in fixed operating expenses

  11. (Potential) impact of SAM • Higher reserves • Higher capital adequacy requirement • Change in authorisation classes • Policyholders will ultimately bear the costs • Improved risk management, transparency, capital adequacy.

  12. Pillar 1 drivers and challenges • IFRS vs. MCVB • Non-life underwriting risk calibration for SA only at QIS3 • Current data quality and availability • Reinsurers data challenges with SAM • Participation in SA-QISs and quality of results • Ring-fenced funds • Segmentation • Group SCR • Documentation • Credit Ratings • Contract boundaries • Loss absorbency • Trade credit insurers

  13. Pillar 2 drivers and challenges • Independent Non-Executive Chairperson • Appointed Actuary • Board and the Internal Model • ORSA • Use Test • Fit and proper • Control functions • Governance and risk systems

  14. Pillar 3 drivers and challenges • Competitive information disclosed publically • Significant increase in auditing-fees because of SAM auditing requirements • Time and cost of reporting vs. value • Materiality

  15. The real impact of SAM

  16. Unknown • Defining proportionality • Nature, size and complexity • EIOPA: “The principle of proportionality is intended to support the consistent application of the principles-based … requirements to all insurers.” • Less disclosures and reporting for small insurers? • Less onerous governance requirements?

  17. Unknown: • Principle of Solvency II: “Actuarial and statistical methodologies applied are proportionate to the nature, scale and complexity of the underlying risks” • Aim not to make the calculation requirements on less complex companies too onerous…. • Simplifications to SCR standard formula allowed…Further guidance still to be issued under SAM….

  18. Unknown • Reserve Bank and supervisory style • Results of the Economic Impact Study • Transitional Arrangements • Rand Bands

  19. Titel hier presented by John Doe Date here Thank you!