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Ian Cullen
IPD Co-Founder and MSCI Advisory Director
About the Contributor
Ian co-founded the IPD Group — now a unit of MSCI — in 1985. An economist, he oversaw production of real estate indexes, performance measurement and delivery of information to clients. Currently, he provides advice across the real estate business, focusing particularly upon applied research, index and benchmark methodologies, client services and regulation. He received his doctorate from University College London, where he started his career as a lecturer and researcher in urban analysis.
Blog posts by Ian Cullen
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Following the global financial crisis, the European Insurance and Occupational Pension Authority (EIOPA) required European insurers to reserve capital equal to 25% of the market value of their real estate assets to protect against a 1 in 200 chance of a catastrophic financial event. While reserving against potential catastrophes is critical, our analysis suggests that particular solvency capital requirement (SCR) may be unduly conservative for a diversified European real estate portfolio.