Daily Archives: March 2, 2015

Credit booms: implications for the public and the private sector

The pre-crisis period was characterised by ample liquidity, a credit boom, and low yields in a wide range of asset classes. It was also defined by the accumulation of risks on and off the balance sheets of many financial intermediaries, particularly banks, as well as by a substantial increase in public and private sector debt in some countries. Understanding the relation between liquidity and the excessive accumulation of risks remains a central policy question. How do credit booms affect incentives? In the case of the government sector, credit booms may affect the incentives of different interest groups to agree on policies for reform or fiscal stabilisation. In the case of the private sector, it may change the incentives of originators to produce good assets. Credit booms complicate the evaluation of policies and agents and in addition may facilitate the entrenchment of interest groups and the deterioration of governance institutions.

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Webinar with Jose Morago: Creating Value With Internal Models, March 3rd 2015, 2:30pm London

Jose Morago, IRM Chairman and Risk Director at Aviva plc, is chairing the IMIF (The Internal Model Industry Forum) on behalf of the IRM, and will be conducting this webinar ahead of RiskMinds Insurance. He will be joined by key members of the IMIF practitioners group.

Moderator: Jose Morago, IRM Chairman and Risk Director at Aviva with
Justin Skinner, Enterprise Risk Management Director (European Operations) at QBE
Raphael Borrel, Risk Management Specialist and Solvency II Programme manager at Vitality UK
Karun Deep, Risk Manager at RSA

This IMIF and RiskMinds Webinar will cover the following developments in internal modelling:

  • Board understanding/training of internal models
  • How validation looks like in BAU
  • Uses of the models and capabilities

The IMIF is an industry forum established by the IRM to address the key questions and challenges that insurers face with the use and validation of internal risk models and to work in a collaborative way to develop good practice to ensure that these models add value to the organisation.

Register now