Eureko selects Barrie & Hibbert’s Economic Scenario Generator for its Risk Management
Last updated 28th July 2010 - The largest insurance group in the Netherlands, Eureko is to take Barrie & Hibbert's Economic Scenario Generator.
As part of its continuous effort to enhance its risk management framework, Eureko, the largest insurance group in The Netherlands, has selected Barrie & Hibbert's economic scenario generator (ESG) to implement across its entire business. In addition to using Barrie & Hibbert's economic models and scenarios in its real-world and market-consistent valuation work, Eureko also intends utilising it in the asset management side of its business.
Richard Plat, Senior Actuary, Group Risk Management, at Eureko comments: "Eureko aims to be the most trusted insurance company, balancing the interests of all of its stakeholders. Barrie & Hibbert's economic scenario generator supports Eureko with that goal as it enables us to prepare more thoroughly for the implementation of Solvency II. It also offers us a further refinement of our Asset and Liability Management model as we now have the opportunity to do more advanced scenario modelling within our existing Risk Management framework."
Alexis Bailly, Regional Manager at Barrie & Hibbert added: "Following an intensive trial phase, we are delighted that Eureko will be using our ESG in preparation for the implementation of Solvency II and to calculate 1 year economic capital and medium term risk measures.”