Americas Insurance Spring 2012 Digest
Oliver Wyman is pleased to announce the second edition of our Insurance Digest. This regular digest of Oliver Wyman publications examines key trends and important drivers of change in the Life and P&C sectors.
Solvency II: A Long and Winding Road
The road to implementing Solvency 2 has been longer and more circuitous than expected. In our joint report with Morgan Stanley, we provide insights on implementation progress thus far. We also discuss key debates in the industry, which will have a significant impact upon the insurance landscape across Europe.
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Variable Annuity Index
Our Variable Annuity Index rebounded in Q4 2011 after reaching an all-time low at the end of Q3 2011, following a sudden and significant decline in long-term interest rates. Barring further declines in interest rates, we expect Q1 2012 profitability to improve considerably, however it will take longer for insurers to work with distribution partners on new products better suited to the low rate environment.
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A Conversation with George Quinn, Chief Financial Officer, Swiss Re Group
George Quinn started as Group CFO for Swiss Re the day the firm announced the highest earnings it has ever had, and has since helped lead the reinsurer through the subprime and broader financial market crisis that followed. He reflects on Solvency II, IFRS Phase 4, the role of rating agencies, and prospects for the insurance sector overall.
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State of Financial Services Report - The Real Financial Crisis: Why Financial Intermediation is Failing
There is - and will be - a growing shortage of long-term capital available to the real economy. Although governments' and corporates' demand for long-term financing is almost matched by households' need to save for retirement, in practice, households commit far less to long-term savings products than they could. This report makes some recommendations for regulators and financial institutions, including insurers, to mitigate this problem.
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Sub-Saharan Africa: Time to Consider the Last Frontier in Insurance?
With domestic markets at or close to maturity, many large insurers are looking to international markets with an eye on regions that provide attractive top-line macro growth potential. Despite formidable challenges, Sub-Saharan Africa represents the last opportunity for insurers to cheaply buy into an untapped growth region.
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