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Own Risk & Solvency Assessment (ORSA)
Milliman helps firms to design and implement their ORSA process and provides tools and techniques to assess their risks and evaluate the resources available to manage and mitigate them. This includes risk capital calculation, emerging risk assessment, stress and scenario analysis, and reverse stress testing.
This note provides high-level recommendations for insurance companies when developing or enhancing their Stress and Scenario Testing (SST) framework.
In Thailand, 2019 will be a year of considerable regulatory changes pertaining to risk management. The new risk-based capital framework will replace the current one, and insurance companies will be required to implement ERM…
EIOPA has recently issued a supervisory statement providing feedback on the ORSAs submitted in 2016.
The Isle of Man regulator is consulting with industry on introducing the ORSA as a new regulatory tool for local insurance and reinsurance companies.
The assessment of the appropriateness of the standard formula is a key part of the Own Risk and Solvency Assessment (ORSA) process under Solvency II.
This article provides a short overview of the structure of the Standard Formula, presents a suggested framework and worked examples, and discusses challenges and pitfalls to be considered.
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Create an effective corporate risk framework to align across business units and mitigating cross-functional risks.
Manage Solvency II implementation across pricing, underwriting, risk management, reporting, and more.
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