The new Solvency II regulations for insurers domiciled in the European Union–which will use a three-pillar approach to determine and supervise implementation of capital requirements–don't take effect until 2012, but already U.S. carriers and regulators are considering the impact on foreign reinsurers and domestic oversight.
The three “pillars” of Solvency II will establish rules for an EU carrier's financial resources, define the principles of the supervisory review process and incorporation of enterprise risk management, and increase disclosure and transparency.
Solvency II can also simplify oversight for all carriers if U.S. and EU regulators can agree on a common approach, which Vasilis Katsipis, general manager with A.M. Best Europe, described a likely scenario.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
