After a long, drawn out process, the European legislation on prudential rules for insurance companies (Solvency II) is set for a final decision. The main text is expected to be approved early this week, following negotiations between the European Commission, European ministries of finance, and the European Parliament.
Solvency II: Three principles to respect
Jon Danielsson, Ralph S.J. Koijen, Roger Laeven, Enrico Perotti, 21 October 2013
Countercyclical regulation in Solvency II: Merits and flaws
Jon Danielsson, Roger Laeven, Enrico Perotti, Mario Wüthrich, Rym Ayadi, Antoon Pelsser, 23 June 2012
The October 2011 Solvency II draft introduces the possibility of a countercyclical premium.
A prudential regulatory issue at the heart of Solvency II
Enrico Perotti, Jon Danielsson, Frank de Jong, Christian Laux, Roger Laeven, Mario Wüthrich, 31 March 2011
Banks are not the only ones getting new regulations after the global crisis. National insurance regulators are drafting rules on capital (reserve) requirements that are analogous to the Basel III capital requirements for banks. These regulators have been under intense industry pressure on the proposed ratio calculation principles.
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