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ICS vs SII – An Update
Russell Ward & Jack Huffer

This session builds on the work we undertook last year analysing the impacts of divergences between the Insurance Capital Standard (ICS) and Solvency II (SII). We now provide an update reflecting changes to the SII Standard Formula proposed by EIOPA. In addition, we also consider the implications of the planned switch from LIBOR to SONIA as the basis for the risk-free curve in the UK from July 2021.

With-Profits Management
Jennifer van der Ree & John Jenkins

This session will cover two particular current aspects of with-profits management:

• Dealing with goneaway cases – both for ongoing management and when undertaking any change when policyholders need to be mailed. We will cover the latest developments within firms and from the Dormant Assets Commission, including the particular issue of Child Trust Funds.
• Efficiency & simplification. The combined effects of reducing policy numbers, fixed expense deals, and the need to treat customers fairly presents a growing challenge for many funds and for shareholders. We will cover the latest developments and ideas for simplifying ongoing management to help deal with these challenges.

Engaging with climate related risk
Neil Cantle

A lot of firms are starting to grapple with the reality of needing to put in place their climate related risk frameworks and embed them into their business. It is tempting to treat the project as one of regulatory compliance but there is rapidly becoming a point of difference, with customers and staff asking companies what their ambition is across a much wider range of dimensions. This session offers some practical insights into how you can articulate your ambition and then engage and mobilise your organisation to ensure that you not only meet the requirements set out by the regulators (including Supervisory Statement 3/19) but do so in a manner that sets you on the path to delivering your overall ambition.