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EU Reforms Neglect Solvency II Concerns, Insurers Warn

Law360, London (November 29, 2018, 5:45 PM GMT) -- Insurers urged the European Commission on Thursday to help lower their capital buffers and free up money to invest in the wider economy, saying sweeping proposals from Brussels are a "wasted opportunity."

Lobby group Insurance Europe said the bloc's executive body should be taking steps to help insurers free up assets for investing, rather than holding them in reserve under the Solvency II directive, the EU's unpopular capital rulebook.

"As the EU's largest institutional investors, Europe's insurers have always supported the aim of the European Commission's Capital Markets Union project to unlock capital around Europe," said Olav Jones, Insurance Europe's deputy...
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