SOLVENCY II REGULATORY PROCESS COMMENCES IN THE EU
Regulation of insurance and reinsurance in the European Union has moved from the solvency issue-based initial phase, dubbed Solvency I, to a broader phase, dubbed Solvency II. Solvency II will address concepts of capital requirements, risk management practices, supervisory activities, reporting and disclosures. Final implementation of Solvency II is scheduled between 2010 and 2012, and substantial study and regulatory and legislative activities will precede final implementation. Information about Solvency II may be found on the EU's web site.
