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08 September 2010

ABI newsletter on the latest developments on Solvency II


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ABI argues that it is important that retail consumers can, with safety, continue to purchase insurance products and are not priced out of the market. But these changes should not threaten financial stability by, for example, making insurers forced sellers of high quality bonds.


 
At the same time the bold reforms set out by Solvency II are needed more than ever: a true economic view of the balance sheet; placing risk management at the heart of regulation; real progress toward meaningful disclosures; capital requirements based on the specifics of an insurer’s business, using internal models where appropriate. Our task in the months ahead is to carefully design the final calibration and deliver transitional measures which will avoid undue market disruption to ensure
Solvency II is as successful in final implementation as it was in the conceptual design of the Directive.
 ABI will also organize a conference on 20 October in London. The theme of the day will be, “Towards completion and implementation” – how to ensure that Solvency II will achieve its original objectives with a balanced and proportionate implementation. Key decision makers including the Chairman of CEIOPS and the Head of the Commission’s Insurance Unit will be speaking. We will be considering key policy questions relating to calibration of the regime, use of internal models, group supervision, ORSA, Pillar 3 reporting and equivalence.


© ABI

Documents associated with this article
ABI_SOLVENCY_II_ISSUE 17[1].txt

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