With a foreword by Gabriel Bernardino, Chairman of EIOPASolvency II
(Directive 2009/138/EC ) regulates the solvency requirements for EU
insurers and reinsurers. It aims to reduce the risk that an insurer
would be unable to meet claims, to provide early warning to
supervisors so that they can intervene promptly if capital falls
below the required level, and to promote confidence in the
financial stability of the insurance sector. Solvency II not only
sets out the capital requirements to guarantee policyholder
protection, but also includes measures to stimulate risk management
and good governance and to improve transparency.This book provides
a thorough and well-structured overview of the regulatory regime
and how it will affect insurers, re-insurers and other market
participants, including policyholders. The author, who was closely
involved in the making of Solvency II, offers all the necessary
insights and explanations to better understand the new solvency
regime. While Solvency I only sets basic solvency standards,
Solvency II is more sophisticated introducing a risk based solvency
capital regime and modernising EU insurance regulation thus putting
much emphasis on high quality prudential supervision. This improves
the protection of policyholders, creates an incentive for good risk
management, recognizes the economic reality of a group, establishes
market transparency and provides for a modern risk based
supervisory regime, in short, as the book's subtitle already
suggests, Solvency II is good for you.Solvency Requirements for EU
Insurers provides a unique insight into the complex world of
insurance and will be useful to risk managers, actuaries,
accountants, lawyers, board members of (re) insurance companies,
insurance intermediaries, consultants, regulators, supervisors,
academics, students and, more generally, all those involved with or
interested in insurance and in the operation of the insurance
market.
General
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