EIOPA has recently published its technical findings on the
Long-term Guarantees (LTG) assessment which was undertaken across
Europe at the beginning of the year. As Towers Watson has
previously highlighted, these are regulations within Solvency II
that could have a significant impact for the growing number of UK
general insurance (GI) companies who now have material exposure to
annuity type liabilities through periodical payment orders
(PPOs).
The Insights paper 'Where now for Long-term Guarantees and
Solvency II' outlines Towers Watson's interpretation of the
latest EIOPA proposals that are scheduled to be included in the
Omnibus II vote in October 2013. The paper has been written for the
benefit of all life and non-life insurers across Europe, and whilst
we believe most of it is relevant reading for UK GI companies with
PPO liabilities, in this document we have summarised what we
believe to be the key factors for insurers with PPO
liabilities.
