Enabling agility

Under Solvency II, it is widely understood that insurers will be rewarded for greater diversification. As such, many insurers have responded by moving into new lines of business. Others have also been taking advantage of a legal procedure known as a portfolio transfer, or a Part VII transfer as it is known in the UK, that insurance groups can use to consolidate several subsidiaries to form either a single, or a smaller number of more diversified businesses.