The Association acknowledged that insurers had failed over months to persuade the Committee of European Insurance and Occupational Pensions Supervisors to modify its capital proposals. CEA's major concern was on the calibration by CEIOPS of non-life risk models.
The CEA, the European insurance and reinsurance federation, published a report highlighting the industry's concerns about perceived excessive capital requirements proposed for Solvency II. The association acknowledged that insurers had failed over months to persuade the Committee of European Insurance and Occupational Pensions Supervisors to modify its capital proposals.
Michaela Koller, director general at the CEA said. "We'd expect more movement from CEIOPS. In some limited areas, there has been some glimmer of light on the horizon but largely the position of CEIOPS is in line with its original draft." She declined to specify where that light could be, but Alberto Corinti, deputy director general at the CEA, said the CEA's major concern was on the calibration by CEIOPS of non-life risk models, as covered in the report, why excessive capital requirements harm consumers, insurers and the economy.
© CEA - Comité Européen des Assurances
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