Global regulatory change for the re/insurance industry

In the wake of the global financial crisis in 2008, significant regulatory change aimed at preventing/mitigating future crises was implemented. While the US insurance regulatory framework did remarkably well in the protection of insurance consumers and companies in the US during the financial crisis it was, and will be, affected by these reforms. Today, the results are having a profound impact on companies’ balance sheets and risk management practices. Although primarily aimed at larger, global insurers, the changes are so extensive that they may impact medium and small insurers to some extent. The question that most re/insurers are asking today is how can they cope with the myriad regulatory, legislative and ratings changes, continue to maximise opportunities and maintain profitable growth.