EU Gears Up To Introduce Insurance Reforms

Law360, New York (July 6, 2007, 12:00 AM EDT) -- The European Commission is set to unveil a new set of rules aimed at increasing competitiveness of the insurance industry, in a move that will mean a major change for Europe's largest insurers.

On July 10, the Commission will introduce Solvency II, a new policy that will change the way regulators calculate the amount of capital insurers are required to hold.

Currently, most member states still mandate that companies calculate capital based on the volume of premiums they hold. Solvency II will change this, allowing insurers...
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