Solvency II

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Solvency II

Proposed regulation for insurers in the European Union. Solvency II would harmonize the insurance regulation in EU member states, permitting any insurer registered in one member state to operate in any other member state. Solvency II would put in place capital requirements for insurers to reduce the risk that they would be unable to meet obligations when an unusually high number of claims has been made. Solvency II is expected to take effect in January 2013.
References in periodicals archive ?
European insurers are in the midst of intense regulatory challenges, with the IFRS Phase 1 due in 2005 & looking ahead, capital adequacy requirements from Solvency 2.