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Hiscox CEO says Solvency II is only ‘half right’

18 February 2013

Bronek Masojada, the CEO of Lloyd's carrier Hiscox, has said that Solvency II needs to have more focus on the customer and less focus on process.

Masojada told attendees of an Economist-sponsored insurance conference that the core assumptions behind Solvency II were only half right.

He said that Solvency II assumed, first, that good controls only produce good outcomes and, second, that regulators can recruit talented people.

He argued that these assumptions were not fulfilled. Sometimes, well-intentioned controls simply madden...

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This article was published as part of issue February 2013/3

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