12 October 2016
Over the years, financial communication has become an essential aspect of promoting the activities of large insurance groups. This exercise has particular import this year with the arrival of the European Solvency II Directive, introducing far-reaching changes in the matter of capital requirements and risk management.
In this context, MAZARS Organisation has taken a closer look at the information available on Solvency II, the major issue in financial communication in 2015.
The conclusion was that introduction of Solvency II has enhanced the financial communication of insurers, both qualitatively and quantitatively.
Many of the insurance companies have adapted well to the requirements of the new regulatory environment due to their effort to develop internal working models.
The information on future prospects, capital management and the distribution of dividends could all be improved.
Financial communication will doubtless be enriched in 2016 with the effective date of the Solvency II Directive, the first SFCR publications, and the full maturity of Own Risk Solvency Assessments (ORSA);
The future of Embedded Value reporting is something to keep an eye on in the years to come. Complete alignment with the Solvency II will lead to the disappearance of this indicator?
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