CEIOPS consultation paper on issues relevant for reinsurance

09 November 2006

CEIOPS release a consultation paper concerning its draft advice to the Commission on the Solvency II project on issues relevant for reinsurance. CEIOPS believes that the high level principles should be the same as the qualitative requirements already recommended for direct insurers. Referring to the SRP a demand for closer cooperation and information systems among supervisors should be emphasized as a core objective due to the often international nature of reinsurance activities and its supervision.

CEIOPS intends to discuss the prudent person plus principle in more detail in another Consultation Paper.

On the treatment of third country reinsurers CEIOPS only presents a preliminary advice noting that further discussion with the Commission is needed.

Deadline for consultation is 12 January 2007.

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