Summary of two years of the Solvency II system and new challenges for reinsurance – report

More than 100 people participated in the seminar entitled ‘Summary of two years of the SOLVENCY II system and new challenges for reinsurance’, organised by the Reinsurance Subcommittee of the Polish Insurance Association. The seminar took place on 21 June this year.

The event started with a presentation by Dagmara Wieczorek-Bartczak, Director of the Business Consultancy Department, European Actuarial Services at EY, which focused on summarising four years of application of the ‘Guidelines on passive reinsurance and retrocession’, the first regulation published by the Polish Supervision Authority in connection with the implementation of Solvency II. Then, Lydia Pomp-Bojerianova, Client Executive Austria & CEE at Swiss Re Europe S.A., discussed issues related to the assessment of the effectiveness of insurance risk transfer in reinsurance contracts. The first part of the seminar was concluded with a speech by Mariusz Kuśmierczyk, Data Management Consultant at SAS, addressing quality management in specialised systems, which is crucial for determining the correct exposure of companies to individual risks.

The presentations given in the second part were focused on the current challenges resulting from technological advancement, political situations and legislative changes. Philipp Rosenaurer MLaw, MSc at PwC discussed the definitions of fintech, insurtech, regtech and legaltech, as well as the risks and opportunities for the insurance sector arising from these business and regulatory trends. Agnieszka Kukiełka, Reinsurance Broker at AON Benfield, provided comprehensive information on terrorism and the consideration of this risk in reinsurance contracts. The last speech was given by attorney Anna Tarasiuk, Partner at Łyszkiewicz & Tarasiuk law firm, and was devoted to the impact of the GDPR and IDD on reinsurance.

Seminar presentations

Presentation by Attorney Anna Tarasiuk