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Volume 30, Issue 1

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Friday, 28 June 2013 17:01

Is There a Risk Management Talent Drought in Europe?

A quarter of European insurers say it’s hard to find knowledgeable, qualified risk management staff, compared to 16% of their US counterparts.


European insurers are becoming increasing troubled by the lack of knowledgeable, qualified risk managers in the talent pool, according to research from State Street.

According to its survey, carried out by the Economist Intelligence Unit in April, 25% of European insurers said they found it difficult to find the right sort of risk manager, compared to 16% of US insurers.

The dearth of suitable talent is concerning, given 89% of insurance executives said improving the assessment and pricing of risk was a challenge.

In addition, 80% of respondents globally viewed balancing liquidity and reserve adequacy as a challenge, and almost a third (29%) said their companies have divested lines of business since the start of the financial crisis due to new capital requirements or risk management considerations.