Deloitte says some insurers plan to re-price and reorganise in response to the introduction of Solvency II regulations, reports

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A quarter of life companies will revamp their product mix.

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Big4, the premier social networking forum for professionals and alumni of Accenture, Andersen, BearingPoint, Capgemini, Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers PwC, reports that 36% of general insurers plan to re-price products in the run-up to Solvency II and that’s up significantly up from 19% last year.

The latest edition of the annual Deloitte Solvency II survey, conducted by the Economist Intelligence Unit and reported on by, also found that life companies are more likely to change their product mix - 26% of life companies say they will do so compared to 8% for non-life companies.

Rick Lester, lead Solvency II partner at Deloitte commented:

“This year’s survey has identified interesting developments in insurers’ approaches to Solvency II and many have reviewed the way it will be implemented,” he said. “In past surveys insurers have talked of the need to restructure and reorganise their business; now they are analysing the risks they run and reviewing the amount of capital they need to write these risks, and adjusting their pricing and product mix accordingly.”

There has been a big fall in the number of insurers which plan to restructure their business. Less than a quarter (23%) say they will re-organise their business. That’s down from 47% last year. also notes that there has been a big fall in the number of insurers which plan to restructure their business. Less than a quarter (23%) say they will re-organise their business – down from 47% last year.

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  •     Kristy Short
(734) 481-0186

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