Hugo Coelho

Articles by Hugo Coelho

  • The curious case of the Swedish curve

    10 March 2015

    Eiopa has cut of the convergence period for the Swedish risk-free rate curve to 10 years from 50, citing the particular characteristics of the bond market. The change will reduce interest rate sensitivity, but increase the risk that insurers under-reserve. Hugo Coelho reports

  • Low rates usher an era of 'new traditional' products

    24 February 2015

    Austrian insurer Uniqa has replaced its traditional guaranteed product with a 'new traditional' product that comes with a 0% guarantee and bonus at maturity. It is just the latest insurer to adjust its product portfolio in response to the twin threats of low rates and Solvency II. Hugo Coelho reports

  • Tough battle ahead for global capital standards

    19 February 2015

    The response of US state insurance regulators to the IAIS consultation on the insurance capital standard sheds light over hurdles on the way of a global compromise. Hugo Coelho reports

  • Hong Kong: on the road to RBC

    12 February 2015

    It is early days for the development of Hong Kong's risk-based capital regime, but insurers already fear it will bring substantial changes to their businesses. Hugo Coelho reports

  • QE reveals the deception of the Solvency II curve

    10 February 2015

    The Solvency II discount curve is masking the impact of tumbling interest rates and artificially increasing levels of available capital, but firms and supervisors are already seeking to gauge the true vulnerability of businesses. Hugo Coelho reports

  • The pains of standardisation

    29 January 2015

    Insurers planning to use the Solvency II standard formula must convince regulators that it is appropriate to calculate their capital requirements. Hugo Coelho reports on the arguments insurers are putting forward - and what happens if they fail

  • Danish regulators flesh out prudent person principle

    20 January 2015

    The Danish insurance supervisor, regarded as one of the leaders of the Solvency II pack, has voiced its concern over the industry's growing exposure to alternative asset classes. Hugo Coelho explores.

  • Swedish insurers stressed out by Eiopa's tests

    16 January 2015

    Swedish insurers fared badly in the stress tests conducted by Eiopa, proving to be the most vulnerable to a Japanese scenario. Hugo Coelho asks Finansinspektionen's Per Griberg to explain

  • Mexican insurers in the regulatory limelight

    08 January 2015

    As one of the international forerunners in adopting a risk-sensitive solvency regime, says Hugo Coelho, commentators are asking what effect new regulation will have on smaller players in the Mexican insurance market

  • Portuguese insurers under pressure to sell bank debt

    09 December 2014

    The Portuguese insurance supervisor has found that one in five insurers fall short of capital under Solvency II, even after taking into account the benefit of the volatility adjustment. What's more, concentrated exposures to the financial sector are sending capital requirements through the roof, as Hugo Coelho explores