QIS5 set to see an increase in Insurer failure rates:
As final implementation of Solvency II looms ever closer, more and more industry experts are now predicting a complicated and worrying time for a growing number of insurers. Willis Re have recently admitted their own fears for the UK’s smaller regional insurers, predicting that many more companies are looking likely to fail in QIS5 than did so in the previous such exercise QIS4.
In a recently released report the global insurance brokers reinsurance arm announced that Quantitative Impact Study (QIS) 5 is shaping up to be a far tougher test than its predecessor, of which only 11% of insurers failed. Whilst claiming that the failure rate will be
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