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ORSA – bleak, hostile terrain where only the brave would tread…in Sweden
Nice article Gideon, was surprised to hear of ICAs being locked in cabinets!
It is nice to see that ex-team Solvency 2 team members such as Nilanjan Mukherjee have retained my lesson of a hoslistic approach.
It may be helpful to look at BaFin’s approach to the ORSA. The BMA’s approach is also interesting.
Many insurance organisations have not yet made the link between the business environment, strategy and risk. This new framework sits within the ERM piece and completes the ORSA loop.