EIOPA Directs Watchdogs On Insurance Stress Test Reforms
Law360, London (April 29, 2019, 3:01 PM BST) -- National watchdogs in European Union member states should review how they are supervising insurers that are sensitive to severe market shocks, Europe’s top insurance regulator has recommended following the results of its 2018 stress test.
The European Insurance and Occupational Pensions Authority said on Friday that it recommended insurance watchdogs based in EU countries should take “specific supervisory actions” to manage and reduce risks to the insurance groups they oversee. National watchdogs should prioritize challenging insurers that have low capital buffers.
Insurers have been shoring up their capital reserves since 2016, when Solvency II, the EU’s capital regime, entered into force....
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