About This Event
This webinar is 90 minutes.
This webinar is complimentary to non-North American audiences in the CAS.
Risk Based Capital (RBC) formulas were first adopted in the US in 1994 with Europe following a decade or so later with a Solvency II framework. Over the past decade many Asian countries have adopted RBC formulas following the Solvency II standard formula approach. This presentation will briefly highlight the approaches taken in the United States, Malaysia and Hong Kong. The National Association of Insurance Commissioners in the United States adopted RBC in 1994, Bank Negara in Malaysia implemented its RBC formulas in 2009 and the Hong Kong Insurance Authority recently adopted its RBC formulas on July 1, 2024. Join this presentation to get an introduction to these three RBC formulas and hear about what changes are being considered in the future.
Key Messages
RBC formulas in US, Malaysia, and Hong Kong
Learning Objectives
- Briefly understand the basics of the US Risk Based Capital Formula for P/C companies and needed refinements
- Briefly understand the RBC formulas following the Solvency II standard formula approach in Malaysia
- Briefly understand the RBC formulas following the Solvency II standard formula approach that is being implemented in Hong Kong
This webinar is complimentary to non-North American audiences who are part of the CAS and the CIA. The webinar will be conducted over GotoWebinar. Please make sure to test your system.
Wayne Blackburn is a Fellow of the CAS and a Chartered Enterprise Risk Analyst. He is a principal and consulting actuary with Milliman who specializes in reserving work and capital modeling for P&C insurers. Wayne is a member of the American Academy of Actuaries, and is a member of the Academy’s P&C RBC Committee.”
Stephen Dong is a Fellow of the Institute of Actuaries of Australia (FIAA). He is a consulting actuary with PwC Hong Kong and previously worked in PwC Australia. Stephen has over 10 years of experience in P&C, specalising in in reserving, capital management and regulatory reporting (e.g., IFRS 17) for local and multi-national insurers.
Xiang Ying Heng is an Actuarial Consultant with the Insurance Consulting and Technology practice at WTW Malaysia and has more than 8 years of experience in general insurance. She is specialized in actuarial reserving, statutory reporting, IFRS17, and has worked with clients across the Southeast Asia region
