Hilde Mosse comes from one of the wealthiest families in Berlin and stands to inherit an enormous fortune. But she longs for something more meaningful than the luxurious lifestyle her family provides. So Hilde decides to pursue her dream of becoming a doctor. As the Nazis take power in Germany and the Mosse family is forced to flee, Dr. Hilde Mosse lands in New York having nearly lost everything.. She finds her calling treating the mental health of Black youth – and the symptoms of a racist system. In addition to photographs, school records, and correspondence spanning Hilde Mosse’s entire lifetime, the Mosse Family Collection in the LBI Archives includes the diaries she kept between 1928 and 1934, from the ages of 16-22. Hilde’s papers are just part of the extensive holdings related to the Mosse Family at LBI. Learn more at lbi.org/hilde . Exile is a production of the Leo Baeck Institute, New York and Antica Productions. It’s narrated by Mandy Patinkin. This episode was written by Lauren Armstrong-Carter. Our executive producers are Laura Regehr, Rami Tzabar, Stuart Coxe, and Bernie Blum. Our producer is Emily Morantz. Research and translation by Isabella Kempf. Voice acting by Hannah Gelman. Sound design and audio mix by Philip Wilson. Theme music by Oliver Wickham. Please consider supporting the work of the Leo Baeck Institute with a tax-deductible contribution by visiting lbi.org/exile2025 . The entire team at Antica Productions and Leo Baeck Institute is deeply saddened by the passing of our Executive Producer, Bernie Blum. We would not have been able to tell these stories without Bernie's generous support. Bernie was also President Emeritus of LBI and Exile would not exist without his energetic and visionary leadership. We extend our condolences to his entire family. May his memory be a blessing. This episode of Exile is made possible in part by a grant from the Conference on Jewish Material Claims Against Germany, which is supported by the German Federal Ministry of Finance and the Foundation Remembrance, Responsibility and Future.…
From Skadden, The Standard Formula is a Solvency Two podcast for UK and European insurance professionals. Join us as Skadden Partner Robert Chaplin leads conversations with industry practitioners and explores Solvency Two developments that matter to you. If you’re enjoying The Standard Formula, be sure to subscribe in your favorite podcast app so you don’t miss any future episodes. Additional information about Skadden can be found at Skadden.com. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden is recognized for its deep experience in representing insurance and reinsurance companies and their advisers on a wide variety of transactional and regulatory matters. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.
From Skadden, The Standard Formula is a Solvency Two podcast for UK and European insurance professionals. Join us as Skadden Partner Robert Chaplin leads conversations with industry practitioners and explores Solvency Two developments that matter to you. If you’re enjoying The Standard Formula, be sure to subscribe in your favorite podcast app so you don’t miss any future episodes. Additional information about Skadden can be found at Skadden.com. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates. Skadden is recognized for its deep experience in representing insurance and reinsurance companies and their advisers on a wide variety of transactional and regulatory matters. This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.
Host Rob Chaplin and Skadden colleague Caroline Jaffer debut the first episode of a yearlong series on global prudential solvency requirements, which will form the basis of the forthcoming Encyclopaedia of Prudential Solvency publication. In this episode, they discuss the International Association of Insurance Supervisors’ (IAIS’) December 2024 adoption of the Insurance Capital Standard (ICS), which Rob notes is a “watershed moment” in global insurance regulation. Rob and Caroline outline key components of the IAIS and the ICS, as well as detail what supervisory authorities and internationally active insurance groups (IAIGs) can expect next regarding the ICS. 🗝️ Key Points 🗝️ Top takeaways from this episode The IAIS’ Regulatory Standards : The IAIS adopts three tiers of regulatory standards: Insurance Core Principles (ICPs), the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) and policy measures for global systemically important insurers. The Insurance Capital Standard (ICS) : Adopted by the IAIS in December 2024, the ICS is a measure of capital adequacy for IAIGs. It is made up of three components: valuation, capital resources and capital requirements. What’s Next for the ICS? : In 2025, the IAIS will begin developing a detailed ICS assessment methodology, which it will use to determine implementation, with in-depth targeted jurisdictional assessments targeted for 2027. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Caroline Jaffer What she does: Caroline has extensive experience working on insurance matters and liaising with regulators in the U.K. and internationally, having practiced in the U.K. and the Middle East. Title: Caroline is an associate in Skadden ’s Financial Institutions Group. Words of wisdom: “When setting out how insurers should value their assets and liabilities, supervisory authorities should adopt a regulatory standard at least as stringent as Market-Adjusted Valuation (or MAV).” Connect: LinkedIn Connect with Skadden ☑️ Follow us on X and LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
As 2024 draws to a close, Rob Chaplin invites colleagues to review a year of change throughout the insurance industry. In keeping with the spirit of a traditional holiday countdown, the team presents 12 topics that spanned the year. For more Skadden insights about Solvency II, click here for their updated guide, The Standard Formula: A Guide to Solvency II. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn Connect with Skadden ☑️ Follow us on X and LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
In this installment of The Standard Formula ’s series on Solvency II, host Robert Chaplin and Chiara Iorizzo unpack the regime’s public reporting element. As Rob explains, public reporting “bolsters transparency and market discipline across the insurance industry.” Rob and Chiara cover requirements of the Solvency and Financial Condition Report (SFCR) and discuss some proposed changes to these reporting requirements. They also explore external audit requirements and review the role of the European Insurance and Occupational Pensions Authority (EIOPA) in information disclosure. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Chiara Iorizzo What she does: Chiara is an associate in Skadden’s Financial Institutions Group. Organization: Skadden Words of wisdom: “The purpose of the SFCR is to provide stakeholders, like policyholders and regulators, with a comprehensive overview of the insurer’s solvency and financial condition.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on X and LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
Host Robert Chaplin and guest James Pickstock cover the Solvency II supervision framework, which is designed to protect policyholders and promote insurer soundness. They focus on the Regular Supervisory Report (RSR), a quantitative tool that is among four key areas that insurers must disclose to supervisors. Robert and James also look ahead to legislative reform effective at year’s end. Watch for our next episode, which will focus on the Solvency and Financial Condition Report, another key area that must be reported to supervisors. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: James Pickstock What he does: Based in London, James is an associate in Skadden’s Financial Institutions Group. Organization: Skadden Words of wisdom: “The U.K. reforms take effect from the 31 December, 2024. Under both the U.K. and EU frameworks, insurers that don’t exceed the new increased thresholds will continue to be able to operate under the Solvency II regime, should they wish to, by applying for a voluntary requirement.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on X and LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
When U.K. insurers observe they cannot comply with requirements under Solvency II, there are detailed steps that one must take. Feargal Ryan , European counsel in Skadden’s Financial Institutions Group, and host Rob Chaplin , head of the firm’s Financial Institutions Group in Europe, break down insurers’ obligations. They explain differences between the Solvency Capital Requirement (SCR) and Minimum Capital Requirement (MCR) and examine the Prudential Regulation Authority’s (PRA’s) requirements. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Feargal Ryan What he does: Feargal advises on a wide range of insurance-related transactions, as well as regulatory issues in the insurance sector. Organization: Skadden Words of wisdom: “The first and most critical step is to initiate a frank and open dialogue with the PRA. Once there is any observation of actual or potential non compliance with the SCR, the insurer should detail all material matters impacting upon the insurer's financial difficulty, as well as any matters that may, in the short, medium, and or long term, impact upon the financial condition of the insurer.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on X and LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
Because strategically allocating assets and managing investments are key to an insurer’s business, valuing assets and liabilities is an important area of focus. In this episode of “The Standard Formula,” host Rob Chaplin, head of Skadden’s Financial Institutions Group in Europe, is joined by associate Olivier Peeters for a conversation about Solvency II’s requirements for asset and liability valuation. Rob and Oliver cover the general principles and specific rules for some balance sheet items and explore recent trends regarding investments into illiquid, or alternative, assets. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Olivier Peeters What he does: Olivier advises insurers, brokers and private equity sponsors on mergers and acquisitions, disposals, investments, reorganizations, alternative transaction structures, multijurisdictional disputes and regulatory matters. Organization: Skadden Words of wisdom: “Where quoted market prices are not readily available, insurers should be prepared to justify their valuation approach to the regulator. For insurers that routinely invest in illiquid assets, it may also be necessary to establish and document evaluation framework and relevant valuation procedures. This is particularly the case in a matching adjustment context.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on X & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
Solvency II imposes numerous governance requirements on insurers. In this episode of “The Standard Formula” podcast, Skadden partner Sebastian Barling and Rob Chaplin, host and head of Skadden’s Europe Financial Institutions Group, guide insurers through these complex requirements. They spotlight the Own Risk and Solvency Assessment, or ORSA, a cornerstone component of Solvency II that insurers must use to assess their risks and solvency needs. Sebastian and Rob also detail the Senior Managers and Certification Regime, or SMCR, which applies to insurers in the United Kingdom. The SMCR complements and enhances the governance requirements under Solvency II. They close with an overview of operational resilience and outsourcing requirements. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Sebastian Barling What he does: Sebastian is a partner in Skadden’s financial institutions regulatory practice. He provides U.K. and EU financial regulatory advice to businesses in the financial services sector. Organization: Skadden Words of wisdom: “Governance plays a crucial role under both Solvency II and the applicable PRA guidelines. This includes active involvement from senior management and the board to ensure that resilience measures are effective and regularly reviewed.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on X & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
“Insurers are expected to hold eligible owned funds in excess of the Solvency Capital Requirement. There are two main methods of calculating the SCR under Solvency II, the standard formula and internal model methods.” In this episode of “The Standard Formula” podcast, Rob Chaplin, host and head of Skadden’s Europe Financial Institutions Group is joined by colleague George Belcher to discuss Solvency II’s internal models (IM). Despite a higher cost of development, IMs offer numerous benefits, such as more accurate risk sensitivity, more flexibility and more available data. Rob and George also explore partial IMs, changes to existing models, the PRA approval process and implications of the U.K.'s move away from EU Solvency II standards. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob is the head of Skadden’s Financial Institutions Group in Europe. He primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: George Belcher What he does: George is European Counsel in the Financial Institutions and Insurance Groups at Skadden. He focuses on insurance-related public and private acquisitions and private equity investments, as well as regulatory issues in the insurance sector. He also frequently advises on matters related to Lloyd’s of London. Organization: Skadden Words of wisdom: “A firm may choose a partial IM where a particular aspect of its business does not fit well within the standard formula.” Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
“The Solvency Capital Requirement, or SCR, is designed to protect policyholders by helping to make sure that insurers can survive difficult periods and pay claims as they fall due.” In this episode of "The Standard Formula" podcast, Rob Chaplin, host and head of Skadden’s Europe Financial Institutions Group, is joined by colleague Will Adams as they take an in-depth look at the Solvency Capital Requirement, one of Solvency II’s most important and complex provisions. The discussion covers the SCR’s key features, risk modules, how it’s calculated and its relationship with the Minimum Capital Requirement (MCR). They also discuss the standard formula (for an in-depth discussion of technical provisions, listen to the previous episode ). 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob is the head of Skadden’s Financial Institutions Group in Europe. He primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Will Adams What he does: Will is a trainee solicitor in the Financial Institutions Group at Skadden. Organization: Skadden Words of wisdom: “The SCR can be calculated by either using the standard formula prescribed by the PRA rulebook and Solvency II, or by using a PRA-approved internal model bespoke to the company concerned.” Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
“Technical provisions are crucial, as they form the fundamental basis for assessing the financial stability of insurance and reinsurance plans.” In this episode of “The Standard Formula” podcast, Rob Chaplin, host and head of Skadden’s Europe Financial Institutions Group, is joined by colleague Mary Bonsu. Rob and Mary delve into the complexities of technical provisions under Solvency II, shedding light on crucial elements such as best estimate of liabilities and risk margins. They discuss factors influencing these elements, such as financial guarantees, future management actions and risk-free interest rate term structures.The conversation also touches on methods to mitigate short-term volatility, and contrasts Solvency II with IFRS 17. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob is the head of the Financial Institutions Group in Europe primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Mary Bonsu What she does: Mary is a trainee solicitor in the Financial Institutions Group at Skadden. Organization: Skadden Words of wisdom: “Technical provisions can be seen as an insurer's main reserves.” Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
The U.K.’s investment rules for insurers and reinsurers have become particularly interesting due to recent proposals for reform relating to U.K. sovereignty and the ESG movement. In this episode of “The Standard Formula” podcast, host and Skadden partner Rob Chaplin is joined by colleagues Ben Lyon and Verena Mengis. Tune in as Ben and Verena delve into a wealth of topics, including the prudent person principle (PPP) in the context of the U.K.'s Solvency II investment rules. Discover the key aspects of PPP and how it applies to insurers' and reinsurers' asset portfolios. Learn about investment rules specific to derivatives, securitizations and assets held to cover linked policies, along with related regulatory changes and their impact on the insurance sector. The episode concludes with a critical discussion on sustainability risks and the integration of ESG concerns into investment rules. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures, and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Ben Lyon What he does: Ben is a counsel in the Financial Institutions Group at Skadden, where he focuses his practice primarily on transactional and advisory work in the insurance sector. He has extensive experience working on insurance and asset management-related public and private mergers, acquisitions and joint ventures, reinsurance transactions, regulatory matters and investigations, corporate governance issues, debt and equity capital markets transactions and other corporate matters in the U.K. and internationally. Organization: Skadden Words of wisdom: “The PRA expects that an insurer's response to financial risks from climate change be proportionate to the nature, scale, and complexity of their business, and that their approach to managing the financial risks from climate change will mature and will develop over time.” Connect: LinkedIn Name: Verena Mengis What she does: Verena is a trainee solicitor in the Financial Institutions Group at Skadden. Organization: Skadden Words of wisdom: “ Since Solvency II came into force, a less prescriptive, but more market favored regime applies to investment rules, to which the prudent person principle is central.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
In September 2023, the U.K.'s Prudential Regulation Authority (PRA) released its second consultation paper on reforms to the Solvency II regime for U.K. insurers. These reforms relate to the use of the Matching Adjustment, a mechanism that adjusts the discount rate that can be applied to the valuation of an insurer’s insurance and reinsurance obligations. In this episode of the “The Standard Formula” podcast, host and Skadden partner Rob Chaplin is joined by colleague Theo Charalambous to discuss the intricacies of the U.K.'s Matching Adjustment regime for insurers, including the rationale behind it, which liabilities are eligible, existing conditions and how it’s calculated. In case you missed it, be sure to listen to the last episode , which covered groups, and stay tuned as our next installment will focus on investment rules. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures, and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Theodoulos Charalambous What he does: Theo is an associate in the Financial Institutions Group at Skadden where he counsels insurers, brokers and private equity sponsors on mergers and acquisitions, disposals, investments, reorganizations, alternative transaction structures and multijurisdictional regulatory matters. Organization: Skadden Words of wisdom: “ The Matching Adjustment is an adjustment to the discount rate that can be applied to the valuation of an insurer's insurance and reinsurance applications in certain specific conditions.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
This episode of the “The Standard Formula” podcast is the fourth in the “Back to Basics” series focusing on developments in the Solvency II regime. Skadden partner Rob Chaplin is joined by colleague Feargal Ryan to explore the complexities of group supervision under Solvency II. Rob and Feargal begin with a discussion of the circumstances under which the U.K. Prudential Regulation Authority (PRA) rules on group supervision will apply to a group, followed by a look at methods for calculating group solvency. They also cover how own funds requirements operate at a group level, and conclude the discussion by considering the application of group supervision at group level under various scenarios. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures, and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Feargal Ryan What he does: Feargal is an associate in the Financial Institutions Group at Skadden where he advises on a wide range of insurance-related transactions, as well as regulatory issues in the insurance sector. Organization: Skadden Words of wisdom: “For group supervision purposes and group solvency purposes, only Switzerland, Bermuda and the member states of the European Union are deemed equivalent to the U.K. However, it is important to note that no reciprocal determinations have been made by the European Union, which means that member states of the European Union cannot rely on group supervision exercised by the PRA in respect of European Union Solvency II groups that have an ultimate U.K. parent company.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
In this episode of “The Standard Formula” podcast, which focuses on Solvency II developments, Skadden partner Rob Chaplin is joined by colleague Olivier Peeters to discuss the U.K.'s change in control regime for insurers and insurance brokers. Rob and Olivier delve into the concept of a “controller” as defined in the U.K. Financial Services and Markets Act 2000 and the obligations that the U.K. regime imposes on controllers looking to acquire a regulated firm. More specifically, they discuss the controller application process required for regulatory approval before closing a transaction, the assessment of applications to determine whether the incoming controllers are fit to control the business of a regulated firm and the obligations of controllers. They also discuss a recently released consultation paper by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) proposing that the existing European Union guidelines on changing control approvals be replaced by U.K.-specific rules and guidance. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures, and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Olivier Peeters What he does: Olivier is an associate in the Financial Institutions Group at Skadden, where he advises insurers, brokers and private equity sponsors on mergers and acquisitions, disposals, investments, reorganizations, alternative transaction structures, multijurisdictional disputes and regulatory matters. Organization: Skadden Words of wisdom: “Usually, when a buyer enters into an agreement to acquire a target, it is free to complete the acquisition at a time that the parties agree. But when you're buying an insurance company, or an insurance broker in the U.K., you will always need regulatory approval to complete the acquisition.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
This episode of “The Standard Formula” podcast is part three of the “Back to Basics” series, which takes a deep dive into the Solvency II regime. Skadden partner Rob Chaplin is joined by his colleague Meher Pahuja to discuss third-country branches and the cross-border provision of services. Rob and Meher explore the significance of third-country branches and the cross-border provision of services, shedding light on the regulatory landscape before and after Brexit. They emphasize the importance of these topics, discussing “passporting” and pre-Brexit regulations. They also provide insights into the post-Brexit environment, explaining the Temporary Permissions Regime (TPR) and the Financial Services Contracts Regime (FSCR) in the U.K., in addition to briefly covering the contingency arrangements implemented by the EU. Later in the episode, Rob and Meher analyze the Prudential Regulation Authority’s (PRA's) proposals to remove capital requirements for third-country branches, and highlight the PRA's efforts to encourage competition and protect customers in the U.K. insurance market. 💡 Meet Your Host 💡 Name: Robert Chaplin Title: Partner, Insurance at Skadden Specialty: Rob primarily focuses on transactional and advisory work in the insurance sector. He advises on mergers and acquisitions, disposals, joint ventures and strategic reinsurances. He also counsels on regulatory issues, with an emphasis on Solvency II. Connect: LinkedIn 💡 Featured Guest 💡 Name: Meher Pahuja What she does: Meher is a London-based trainee solicitor at Skadden, focusing on financial institutions. Organization: Skadden Words of wisdom: “What is clear from all these consultation papers is that the PRA is taking significant strides to encourage competitiveness and growth in the U.K. market while protecting customers.” Connect: LinkedIn Connect with Skadden ☑️ Follow us on Twitter & LinkedIn . ☑️ Subscribe to The Standard Formula on Apple Podcasts, Spotify, Google Podcasts, or your favorite podcast app. The Standard Formula is a podcast by Skadden, Arps, Slate, Meagher & Flom LLP, and Affiliates . This podcast is provided for educational and informational purposes only and is not intended and should not be construed as legal advice. This podcast is considered advertising under applicable state laws.…
Chào mừng bạn đến với Player FM!
Player FM đang quét trang web để tìm các podcast chất lượng cao cho bạn thưởng thức ngay bây giờ. Đây là ứng dụng podcast tốt nhất và hoạt động trên Android, iPhone và web. Đăng ký để đồng bộ các theo dõi trên tất cả thiết bị.