The introduction of Solvency Assessment and Management (SAM) to the South African insurance market has brought both rewards and challenges. This series of articles looks at some of the challenges that insurers face in the completion of regulatory returns and that have been observed in the Comprehensive Parallel Run (CPR). These articles will outline challenges experienced by insurers in the completion of the Quantitative Reporting Template (QRT) and highlight areas where insurers may be applying incorrect standards in the calculation of the Solvency Capital Requirement (SCR). They will also identify areas where the standard formula, accompanied with slightly different business practices, could result in different capital requirements for similar (if not identical) risks.
SAM common errors: General issues
By David Kirk, Janri Theron | 23 May 2017
The introduction of Solvency Assessment and Management (SAM) to the South African insurance market has brought rewards and challenges. There are some challenges that insurers face in the completion of regulatory returns and that have been observed in the Comprehensive Parallel Run (CPR). This article deals with common issues faced by both Life and Non-Life insurers with the introduction of SAM.
Download the PDFSAM common errors: Life insurance
By David Kirk, Richard Taylor | 23 May 2017
The introduction of Solvency Assessment and Management (SAM) to the South African insurance market has brought rewards and challenges. There are some challenges that insurers face in the completion of regulatory returns and that have been observed in the Comprehensive Parallel Run (CPR). This article deals specifically with life insurers and the issues they face with the introduction of SAM.
SAM common errors: Non-life insurance
By Clive Hogarth, David Kirk | 23 May 2017
The introduction of Solvency Assessment and Management (SAM) to the South African insurance market has brought rewards and challenges. There are some challenges that insurers face in the completion of regulatory returns and that have been observed in the Comprehensive Parallel Run (CPR). This article deals specifically with non-life insurers and the issues they face with the introduction of SAM.