Why Solvency II?
The Solvency II directive, which is to be implemented during 2012 is the most and far reaching and complex legislation to impact the insurance and reinsurance industry to date. It aims to establish a revised set of EU-wide capital requirements and risk management standards that impact every part of a company’s business.
As a recent report by Bank of America Merrill Lynch titled: "Solvency II: Welcome to the Casino," concludes that the directive could heighten the divide between larger and smaller insurers and make certain securities issued by insurers less attractive to investors.
"The implications of the current proposals are negative for most of the companies in the sector, and for some, the implications look dire," the report said. "But the quoted companies, and particularly those who can prove the efficacy of their own models, will fare relatively well, in our view."
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