Europe - solvency swings as rule launch looms
Friday, 11 20 2015, Category: Insurance and Reinsurance, Country: Europe
European insurers and financial markets must prepare themselves for bigger swings in regulatory safety buffers after new insurer risk rules take effect in six weeks' time, insurers and regulators said on Wednesday.
After more than a decade in the making, the sophisticated risk capital rules known as Solvency II will finally come into force on Jan. 1 but are still little understood, even within the broader insurance sector.
"Consumers will need advice from specialists, analysts are struggling with it and you see how markets react if companies are not very clear in expressing their position," said Belgian insurer Ageas Bart De Smet at an industry conference.