Webinar: Solvency II’s Impact On Captives

February 13, 2012

A panel of analysts from A.M. Best Europe will review the potential impacts of Solvency II on the captive sector — including Bermuda’s role as the leading international domicile — during a one-hour public webinar being held on Tuesday, 21 February.

Although the captive sector reported widespread growth in 2011, the approach of Solvency II directives aimed at codifying and harmonising the European Union’s insurance regulations has introduced much uncertainty about its future prospects.

“For captives located within the EU the new insurance regulatory regime is likely to have a material effect,” said a spokesman for the international ratings agency. “What is less clear is the extent of this impact but, as yet, few concessions have been made to the argument that the objectives of Solvency II have little relevance to captive operations.

“This could provide captive domiciles outside the EU with a competitive advantage, although the picture is confused by, for example, the position of Bermuda — the largest captive centre — seeking Solvency II equivalence but excluding the supervision of captives.”

The webinar will discuss the salient features of Solvency II and how they might affect captives.

The A.M. Best spokesman continued: “As presently framed Solvency II is a major challenge to the efficiency and effectiveness of many captives. The possibility of meeting such a challenge by a captive being rated will also be considered.”

Panelists for this webinar will include:

Anandi Nangy-Kotecha, Associate Director, Analytics
Clive Thursby, Senior Director, Market Development, EMEA & South Asia

You can register for the webinar at no charge here..

Currently A.M. Best rates approximately 200 captive schemes in over 40 jurisdictions, ranging from Bermuda to Hawaii in the West and the Malaysian state of Labuan in the East.

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