The Solvency II Process: Overview and Critical Analysis
24 Pages Posted: 13 Jan 2006 Last revised: 10 Jun 2013
There are 2 versions of this paper
The Solvency II Process: Overview and Critical Analysis
The Solvency Ii Process: Overview and Critical Analysis
Abstract
As early as the 1970s, European Union (EU) member countries implemented rules to coordinate insurance markets and regulation. However, with the more recent movement toward a general single EU market, financial services regulation has taken on new meaning and priority. Solvency I regulations went into effect for member nations by January 2004. The creation of risk-based capital standards, the main focus of Solvency II, now appears likely sometime after 2007. The purpose of the discussion presented here is to outline the specifics of Solvency II as they currently stand and provide input to evaluation process that, ultimately, will determine the exact form of capital regulation. Our analysis leads us to conclude that caution is warranted.
Keywords: Regulation, Market Discipline, Solvency II
JEL Classification: G11, G22, G23, G31
Suggested Citation: Suggested Citation
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