For insurers across the world, 2013 is shaping up to be another year of significant regulatory and commercial change.
This year's edition of Evolving Insurance Regulation, published by KPMG's Global Financial Services Regulatory Centre of Excellence, offers a unique overview of – and insight into – the increasingly wide range of regulatory drivers, and examines ways in which the industry can balance these new demands.
Initiatives such as systemic risk, group-wide supervision and the IAIS ComFrame proposal remain a key focus for many insurers and regulators. Increasingly, as more jurisdictions begin to implement the ICPs, assessing how best to accommodate multi-jurisdictional compliance and reporting requirements becomes a growing strategic challenge.
The ongoing regulatory change agenda, the renewed need for increased growth, profitability, capital returns and careful management of the cost base remain central themes for the industry. We believe insurers who manage these challenges with an eye on enhancing performance will be best positioned for success.
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