Solvency II likely to be “major development” for ILS market
Saturday, 06 27 2015, Category: Insurance and Reinsurance, Country: Europe
The introduction of the impending Solvency II insurance and reinsurance regulatory environment is likely to be a “major development” for the insurance-linked securities (ILS) market, according to a representative of EIOPA.
Petr Jakubik, who leads the Financial Stability Team at the EU insurance and reinsurance industry watchdog, the European Insurance and Occupational Pensions Authority (EIOPA), said that the risk transfer afforded by ILS transactions could impact sponsor capital requirements under the Solvency II regime.
Speaking at an event in Zurich yesterday hosted by the University of St. Gallen, where the academics from the university launched its latest study into the ILS space, Jakubik spoke about the impact Solvency II could have on capital markets risk transfer and ILS.