EIOPA Takes Cautious Approach To Solvency II Reform
Law360, London (December 17, 2020, 5:07 PM GMT) -- Europe's insurance watchdog said it does not want to make fundamental changes to capital adequacy rules for the sector, in a long-awaited final report to the bloc's governing body Thursday that insurers have described as "disappointing."
The European Insurance and Occupational Pensions Authority said it believed the Solvency II Directive, which governs how much cash insurers are required to hold onto, was working well, and only required minor updates.
The regulator submitted to the European Commission its final opinion on a proposed shakeup of the 2016 directive. The commission said earlier this year it wants to ensure Solvency II rules are...
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