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EU Reinsurers Fight To Preserve Bespoke Capital Reserves

Law360, London (January 9, 2019, 12:32 PM GMT) -- Europe’s reinsurers defended their right to determine the size of their capital buffers on Wednesday, dismissing criticism from regulators who fear that companies will be tempted to hold less cash to protect themselves from financial crisis.

A major industry group set out the case for allowing reinsurers to continue to tailor their capital reserves rather than being forced to accept a "one size fits all" calculation handed down by the European Insurance and Occupational Pensions Authority. Reinsurers use bespoke “internal models” to bypass calculations provided by EIOPA under the Solvency II Directive, the EU’s unpopular capital regime, which they regard as too...

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