CEA wants probe into Solv II 'confusion'
Thursday 20 January 2011 - by Andrew Hickley
The European insurance and reinsurance federation has called for the European Commission to investigate the "confusing inconsistencies" that Solvency II will have on pensions providers.
Described as "world's most state-of-the-art regulatory regime" by the CEA, the European Commission is currently drafting proposals for implementing Solvency II.
The directive creates a fundamental change of capital adequacy for all European insurance and reinsurance firms with gross premium income over €5m or gross technical provisions of €25m.
Once proposals are finalised, it will be rolled out into national legislation by 31 December 2012.
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