RISA (ReInsurance under the Standard Approach)

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RISA (ReInsurance under the Standard Approach)

In the light of increasing regulatory requirements, it is becoming more important for our cedants to have a holistic, risk-based and forward-looking view of their operations as a whole. A modern risk management system needs modelling based on a holistic and interconnected view that takes account of the interaction between the economic balance sheet and the risk situation. This is particularly relevant for the calculation of the solvency ratio using the standard approach. Models should be able to depict the effects of risk-transfer instruments like reinsurance. Also essential to ensure the compatibility of the risk and business strategies are a forecast of the future solvency situation and the economic modelling of potential stress scenarios.

The main items in the Solvency II balance sheet can be depicted using the RISA tool. Based on the analyses, it is possible to forecast the effect of non-life reinsurance in a multi-year view and to evaluate stress scenarios.

Where similar approaches exist outside the Solvency II regime, the RISA methodology can be used.

Overview

Category: Solvency II  / Reinsurance / ERM
Target group: Non-life insurers
Download: Knowledge Series: RISA – A standard model for non-life insurers (PDF, 346 KB)

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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.