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
Will cover 50% of companies in each country
Gabriel Bernardino, chairman of CEIOPS from October 2009 to December 2010, has been elected the first chairperson of EIOPA by the authority's board of supervisors.
Van Hulle counting on EIOPA for the right conclusions from QIS5
No public debate at this stage on internal model issues
Will formalize new body's establishment