It is with regret that the members of the Capital Allocation Working Party have decided to disband the working party. Having reviewed the objectives of the working party, it was felt that capital allocation within the insurance industry has moved on since the inception of the working party and that the current group would not be able to produce anything substantially new over and above current practice.
In particular, it is felt that the methodology for allocating capital has been established in much of the proprietary software being used in the industry, while the business application of capital allocation is likely to be highly general with value adding proprietary knowledge carefully guarded by industry players.
- Define purpose of a capital allocation framework
- Outline the applications of capital allocation to support management of an insurance business
- Outline the methods that can be used to determine capital allocation, including limitations and potential applications.
- Outline implications of corporate structure and geography.
- Identify additional areas of research for subsequent phases of the working party (if relevant)
- Economic capital for insurance companies.
Out of Scope:
- Impact of specific regulatory requirements (e.g. Solvency II)
- Other financial institutions (e.g. banking). Other than high level reference to broader financial services institutions.
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