Speaking exclusively to InsuranceERM, chairman of Eiopa Gabriel Bernardino dismisses criticisms that Solvency II will damage the insurance industry but says fine tuning is needed. Michael Faulkner reports.
But internal models and transitional measures would limit fall to 1%, says EIOPA
Hotly awaited results will fuel arguments for changes to Solvency II
Members of insurance and reinsurance and occupational pensions stakeholder groups unveiled
New chairman says Solvency II will not lead to industry-wide increase in capital
Selection completes European supervisory body's top management
For many insurers, the technical specifications and the calculation of different solvency measures in QIS5 posed significant challenges and raised a number of poignant questions, which need to be resolved with some urgency given Solvency II's rapidly approaching 2013 implementation date. Jeff Courchene, Peter Franken,Vincent Robert, Fabrice Taillieu and JoÃ«l van der Vorst explain the challenges for non-life and health insurers in more detail
Sants describes FSA as the 'supervisory arm' of EIOPA.
Emphasises need for independence and transparency in making EIOPA a success.
Binding technical standards required by December 2011