Solvency II
Phil has worked for many years with in insurance industry. He has been the FD of a P&I club and worked for Aon Benfield. He has a thorough understanding of all solvency and risk management issues. He is available for project management, modelling, documentation and ERM.
Pillar 1
Greenwood Consulting designed the models for several ICA submissions. The complexity of the models varied proportionality with the client’s business. For one client all that was need was a simple stress test, for one an examination of a various scenarios and business threats. The largest clients’ needed a full stochastic DFA model. These were constructed in excel using VBA and @risk. These models have proved to be robust as they are still in use and will remain so until Solvency II is fully implemented. Greenwood Consulting produced the bulk of the supporting documentation, especially those sections relating to risk identification and management.
All of these submissions were approved by the FSA who accepted that the capital calculated by the model was appropriate. The FSA further stated at an industry forum that they preferred the treatment we had adopted for certain risks compared to other submissions.
Greenwood Consulting is able to offer modelling services that will fulfil the Pillar I demands of Solvency II.
Pillar 2
Phil has many years of risk management and mitigation. As stated above he has worked on ICA submission documents. As part of his work on these ICAs he was responsible for establishing the risk registers and leading the mitigation of risk. He was also responsible for the change management processes that embedding risk management into an organisation required.
He will be able to help you bring all the documentation together, embed risk management into the organisation and help you develop an ORSA proportional to your business. As part of the ORSA process he can help you in determining ad setting your risk appetite.
Pillar 3
As the guidance is issued Phil will be bale to help you control the disclosures you need to make under the directive.