The European Parliament will issue a directive in 2023 obliging insurance companies to issue and regularly update a pre-emptive recovery plan. Member states will designate a national resolution authority which may oblige insurance companies to internal restructuring as part of the resolvability assessment.
Finalyse offers you a comprehensive set of managed services and tailored solutions. Partner with Finalyse and let us take care of your recovery planning, resolvability assessment and ensure full compliance with the new regulation.
Gap analysis:
Producing a gap analysis, detailing differences between the new requirements and the current status and proposing a roadmap for implementation.
Draft:
Assist with the drafting of the recovery plan: definition of triggers and scenarios and elaboration of recovery options and external communication strategy.
Resolvabilty assessment:
Anticipate the internal changes stemming from the resolvability assessment performed by the resolution authority.
Implementation:
Assist with implementation of internal changes stemming from the gap analysis, pre-emptive recovery plan and resolvability assessment.
Review:
Ensuring the content is in line with the Insurance Recovery and Resolution Directive.
Provide feedback and propose improvements.
Strategic support
Strategic support in understanding the new regulation for your business and long-term implications.
Finalyse offers extensive expertise on both the asset and liability sides of the balance sheet, which provides the necessary scope of knowledge and skills to help determine the pre-emptive recovery plan that is optimal for your business.
Working with Finalyse on the implementation of this new Directive, you will benefit from the broad experience we have accumulated in the area of risk and actuarial.
Leverage on our experience in areas beyond financial reporting, such as actuarial models, risk management including ALM and hedging, product design and business strategies.
Finalyse will provide solutions tailored to your organisation and business requirements.
Francis is a Principal Consultant in charge of our insurance practice in Dublin. He has 15 years of experience within the life and non-life (re)insurance industry. His expertise covers the areas of financial reporting, prudential regulation, and actuarial modelling. Francis has worked in both industry and consulting with extensive exposure to Solvency II and BMA-regulated clients and a keen eye on new regulatory developments.
Jayadevan is a qualified Life Actuary with expertise in actuarial modelling, reporting and insurance regulation. He has gained significant Actuarial risk modelling experience through AXIS & SQL model migration projects, and setting up valuation models in AXIS. Jayadevan has also worked in a risk manager capacity where he has developed recovery planning documents and is well versed with the guidelines and regulations for recovery planning.
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