We are the voice of insurance and long-term savings | Contact us

From Brussels to Basel: Internal models in the Insurance Capital Standard and implications for the UK


Where: Association of British Insurers - UK Head Office - London, One America Square, 17 Crosswall, London, EC3N 2LB

Registration: from 08:30

Event registration closed

In the latest round of field testing of the Insurance Capital Standard (ICS), insurers were still calculating their capital requirements using the standard method. The IAIS has since announced ICS version 2.0 will be phased in, with group supervisors receiving optional additional reporting of an internal model-based capital requirement calculation during the initial 5-year monitoring period.  While a welcome development, it is unclear what this will mean in practice and once the ICS is fully implemented. 

In this context, the ABI and the Internal Model Industry Forum, are pleased to announce a breakfast seminar exploring the role of internal models in the ICS. As the UK considers life after Brussels, it is arguably more crucial than ever for UK firms that global standards are appropriate, and for many insurers that means recognition of either full or partial internal models.

Join insurers, regulators, and industry participants as they discuss the political, conceptual and technical challenges facing the IAIS as they consider internal models, and the impact on UK insurers of following Basel’s standard formula instead.

Speakers include:

  • Phil Whittingham, Head of Model Validation and Risk Governance, XL Catlin and Chair of the Internal Model Industry Forum
  • Abhishek Saraf, Head - ERM, Prudential plc
  • Regina O'Connor, SVP & Head of Government Affairs and Regulatory Policy, XL Catlin
  • Romain Paserot, Deputy Secretary General, International Association of Insurance Supervisors
  • James Maher, Partner and Head of Insurance Ireland, EY


Members Price: Free

Associate members Price: Free

Non-members Price: Free

    Event registration closed