Bolkestein on future of EU insurance market

20 November 2001

-
According to Commissioner Bolkestein EU insurance markets will continue to go through profound and deep changes to respond to the ever-increasing globalisation of the financial services markets, the increasing innovation and technological developments, and the shock to the insurance market of 11 September.
Regulation, supervision and internationalisation are therefore the three pillars of the European strategy to get a sound, competitive and efficient insurance industry in Europe. The Commission believes that a change in EU reporting and prudential rules neither is appropriate nor could be achieved in good time. However, it is of fundamental importance that member states’ co-operation on supervisory issues is reinforced. See speech

© European Commission