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Article
Publication date: 21 June 2023

Antonia Müller and Svend Reuse

Following the United Kingdom's (UK) withdrawal from the European Union (EU), there is uncertainty in the financial services industry on equivalence of regulatory regimes. This…

Abstract

Purpose

Following the United Kingdom's (UK) withdrawal from the European Union (EU), there is uncertainty in the financial services industry on equivalence of regulatory regimes. This also affects the insurance industry. As of now, it is not clear if the UK’s supervisory regime (“Solvency UK”) will be classified as equivalent to the European Solvency II supervisory regime. After no equivalence decision was taken during the Brexit transition period and there are efforts by the UK in the form of the UK Solvency II Review and the Financial Services and Markets Bill to adapt Solvency II more to the characteristics of the national insurance market, the uncertainties are intensified. Although Solvency II non-equivalence would have a significant impact on insurance groups operating in both the UK and the EU, there has been no detailed analysis of whether these initiatives could have an impact on a future Solvency II equivalence decision. The purpose of this paper is to address and close this research gap with a literature review and a subsequent equivalence mapping and discussion.

Design/methodology/approach

Based on the literature review methodology, this paper draws on academic sources as well as publications from governments and regulators, articles from consultancies and subject matter experts and uses this literature to provide an overview of the current state of research on equivalence in the wider financial services industry, but specifically on Solvency II equivalence, the UK Solvency II Review and the Financial Services and Markets Bill. Based on this literature review, the paper also forms the basis for an innovative and forward-looking Solvency II equivalence mapping and discussion.

Findings

Several articles state that differences between Solvency II and Solvency UK could harm a future Solvency II equivalence decision. The UK Solvency II Review and the Financial Services and Markets Bill are two initiatives that support the objective of aligning the Solvency II supervisory regime more closely with the circumstances of the UK insurance market. Although both initiatives contribute to the fact that Solvency UK differs in parts from Solvency II, based on the literature review and the subsequent equivalence mapping and discussion, there are currently no reforms that should harm future Solvency II equivalence decisions.

Originality/value

This paper provides a previously non-existent overview of equivalence in the wider financial services industry, but specifically on Solvency II equivalence, the UK Solvency II Review and the Financial Services and Markets Bill, and brings them together in an innovative equivalence discussion. It thus presents the current state of knowledge on Solvency II after Brexit and develops it further around a mapping against the equivalence criteria. As non-equivalence could have significant implications for insurance groups operating in both the UK and the EU, this paper is a useful and practical study that provides a previously non-existent equivalence mapping and discussion based on current initiatives and publications. It thus closes the research gap identified and reduces uncertainties in the insurance industry and can be used as a blueprint for detailed and forward-looking equivalence mappings and discussions for the wider financial services industry.

Details

Journal of Financial Regulation and Compliance, vol. 31 no. 5
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 1 April 2005

Anastassia Manuilova, Klas Hallberg, Karin Sanne, Johan Widheden and Malin Bogeskär

To present the EU project DANTES (Demonstrate and Assess New Tools for Environmental Sustainability), conducted by Akzo Nobel Surface Chemistry AB, ABB, Stora Enso and Chalmers…

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Abstract

Purpose

To present the EU project DANTES (Demonstrate and Assess New Tools for Environmental Sustainability), conducted by Akzo Nobel Surface Chemistry AB, ABB, Stora Enso and Chalmers University of Technology. One of the project's goals is to assess and demonstrate tools such as life cycle assessment (LCA), environmental risk assessment (ERA) and life cycle costing (LCC).

Design/methodology/approach

Different strategies for eco‐efficiency evaluation based on existing tools as well as case study results are demonstrated through the project's web site (see www.dantes.info) and through several information campaigns during the project period. The paper presents an overview of environmental assessment tools and strategies for using these tools and methods.

Findings

Provides information on the use of sustainability tools and methods, indicating the problems that can be addressed by the application of the tool as well as how and who can use the tool. The results from the project were translated into strategies for eco‐efficiency evaluation based on existing tools.

Practical implications

Implementation of the strategies demonstrated in the project reduces costs by increasing the performance of products, processes and services, as well as the drive and awareness of companies' personnel in environmental issues. It also promotes good practices.

Originality/value

This paper describes the DANTES project, which is aimed at educating industries on how to use sustainability tools to address environmental problems. It offers practical help to different departments within companies.

Details

Management of Environmental Quality: An International Journal, vol. 16 no. 2
Type: Research Article
ISSN: 1477-7835

Keywords

Book part
Publication date: 10 October 2017

Hans Mikkelsen and Jens O. Riis

The wide spread application of projects to many areas of society has led us to identify five generic elements that every project will have to address. They are: project…

Abstract

The wide spread application of projects to many areas of society has led us to identify five generic elements that every project will have to address. They are: project management, project task, stakeholders, resources, and project environment. Each element will be further divided into five sub-elements. This five-by-five model will be used to identify the nature of a specific project and to develop appropriate approaches and means. It will also allow a circular planning process that gradually will lead to coherence among the five elements.

To illustrate the broad spectrum of projects that we see in practice, we have identified five types that will be characterized by the five-by-five model.

In view of the complex nature of most projects, the chapter will introduce four complementary perspectives: a technical, a business, an organizational, and a stakeholder perspective. Each perspective will describe key features of a project and is supported by theories, models, and methods. Although the perspectives are complementary, they are strongly interdependent.

The chapter will give an overview of the book.

Details

Project Management
Type: Book
ISBN: 978-1-78714-830-7

Abstract

Details

Onboarding: Getting New Hires off to a Flying Start
Type: Book
ISBN: 978-1-78769-582-5

Article
Publication date: 10 November 2023

Yogesh Sharma and Rajeev Sijariya

The purpose of this study is to examine the trends and developments of subscription business models (SBMs) over the past two decades.

Abstract

Purpose

The purpose of this study is to examine the trends and developments of subscription business models (SBMs) over the past two decades.

Design/methodology/approach

The study extracted 469 documents (articles and reviews) from the Scopus database during 2000–2022 and analysed 132 documents (articles and reviews). A bibliometric methodology of scientific mapping was employed, including a cluster analysis based on the bibliographic coupling of documents. Content analysis was also conducted to reveal emerging trends in SBMs.

Findings

The study revealed six emerging themes in SBMs related to consumer behaviour, digital advertising, online news media, journal publications, circular economy and sustainability strategies.

Originality/value

The results of this study provide new and unique insights into the development and trends of SBMs over the past two decades and offer guidance for future researchers to investigate further the phenomenon of SBMs in emerging areas.

Details

Journal of Service Theory and Practice, vol. 34 no. 2
Type: Research Article
ISSN: 2055-6225

Keywords

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