EU Seeks To Strike 'Balance' On Solvency II Rule Changes

Law360, London (January 29, 2020, 1:03 PM GMT) -- A review of Europe’s rules on minimum levels of reserves for insurance companies is “not just a technocratic exercise,” the European Commission’s top finance chief said Wednesday, as insurers warned the authority against making substantial changes to the laws.

Valdis Dombrovskis, executive vice-president of the European Union's executive body, said it was necessary to bring the Solvency II Directive up to date because of the potential for financial losses from cyberattack or environmental catastrophe.

He was speaking about the review of the 2016 law at a conference in Brussels, where insurers voiced concerns about whether the European Insurance and Occupational Pensions Authority was...

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