Thursday, 14 April 2011

Willis Re publication - speak for yourself...

Wasn't convinced by this one - Willis Re with their barking dogs analogy with a large regurgitation of EIOPAs work, followed by a "how can we help" tagline.

There are a few outlandish references. Their assertion on page 1 that industry preparedness "depends on how credible you think the QIS5 results are" is as bizarre as it is utterly false. The "limited number of insurers who used internal capital models" doesn't have to reflect a lack of preparedness when there is an approvals process that didn't end at the QIS5 completion cut off, and to say that "most insurers are still struggling with model construction, validation and documentation" is reaching just a tad - I personally prefer the word "working", and reserve "struggling" for people who can't make ends meet.

Woof woof!

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