Solvency II - Threats and Opportunities

Are you ready for Solvency II?

The industry has generally been supportive of a higher standard of regulation, but is increasingly worried about the true costs and implications of implementation. In particular there is a concern that the final form of the new regime could be unduly influenced by what some see as regulatory paranoia.

In recent months, captive and run off players have complained about a lack of recognition of the issues which impact on their particular sectors. The European insurance federation, the CEA, has been critical of many aspects of the project for some time and has predicted dire consequences if the rules are implemented as currently proposed. Some of the bodies which represent insureds are worried that the regulations may harm consumers by driving up premiums and reducing the number of competing (re)insurers in the market.