Top EU Watchdog Gets Tough On Insurers' Capital Reserves
Law360, London (January 10, 2019, 1:09 PM GMT) -- Europe's top insurance regulator has confirmed that it plans to tighten supervision of companies that determine their own capital reserve requirements, sweeping aside industry concerns that the move will make it harder to do business.
The European Insurance and Occupational Pensions Authority wants greater control over the way that companies tailor their own capital buffers rather than accepting a one-size-fits-all calculation determined by the European Union, a spokeswoman for the authority told Law360.
Constraints on resources, and in some cases limited access to information, are limiting the “depth” of the authority's work on internal modelling - as the process for setting bespoke...
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