This edition examines the changing regulatory expectations of senior management in insurance companies. This includes high-level culture and tone plus how regulatory operating models can help businesses manage these challenges and help achieve positive business outcomes. It is important that compliance does not become a regulatory tick box exercise, and insurers need to to ensure processes meet growing regulation demands globally and locally and provide business support. They must also provide the assurance needed to enable decision-making across a wide range of strategic and operational issues.
Following our series of Solvency II mini-articles, our final article considers the challenges that Solvency II reporting will bring., This applies not only to the preparatory period, but also in the live regime, and considers how boards can respond to these.
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Illuminate is KPMG’s regulatory e-newsletter for the insurance sector. Illuminate is released quarterly and contains bite-sized summaries of topical regulatory issues affecting the insurance industry.