KPMG Insurance Industry event – Risk, Compliance, Internal Audit and Actuarial Trends under Solvency II
4 November 2016, 9:00AM - 11:30AM, CET Gibraltar, Gibraltar
Date: Friday 4 November 2016
Time: Registration 09:00 Seminar 09:30 to 11:30
Location: Sunborn Yacht Hotel
Noel Garvey, a KPMG Director covering Gibraltar, Ireland and the UK, shared his views on industry trends and emerging supervisory expectations over the year in the actuarial space. He also identified areas where Gibraltar’s insurers may need to increase their efforts in future.
KPMG’s Risk Advisory team covered the other Solvency II control functions. He highlighted both deficiencies in delivery flagged locally and across the EU, as well as emerging good practices in the delivery of both services and reporting outputs.
Later, a discussion took place about how risk and actuarial staff combined forces during the year to aid in the operation of ORSA Processes. They also assessed the delivery of ORSA Reports, covering in particular where efficiencies could be gained, or where shortcomings are regularly found.