The ancient Maya predicted the world would end in 2012. Was that because they knew that Solvency II would take effect from the end of that year?
Probably not. But the new European Union (EU) rules on how much capital an insurer must hold to be permitted to transact business will end the cosy world known to insurers throughout the EU. The framework legislation (Level 1 Framework in EU parlance) passed the EU Parliament in 2009. Since then, the European...
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