Challenges to Solvency II Reform in Insurance Industry

Ramosaj, Berim (2010): Challenges to Solvency II Reform in Insurance Industry. Unpublished.

Abstract

Insurance Industry is going through a very important stage of its transformation - the transition from the classical system of management into a risk-based management. These changes were launched in Europe by international organizations which deal with the development of the necessary infrastructure for a better-managed industry and with a proper legal infrastructure through different European directives in insurance area.

These changes have intensity in the finalization of the general technical, legal and structural infrastructure, which would be developed based on three pillars. The consequences of the current financial crisis as well as its impact towards the implementation of Insolvency II have not been analyzed yet. Its implementation, perhaps, would be an adequate response in facing this crisis.

• Item Type: MPRA Paper
• Language: English
• Keywords: Solvency II, insurance industry, insurance reform, risk-based management
• Subjects: G - Financial Economics > G1 - General Financial Markets > G11 - Portfolio Choice; Investment Decisions; G - Financial Economics > G2 - Financial Institutions and Services > G23 - Pension Funds; Other Private Financial Institutions; G - Financial Economics > G3 - Corporate Finance and Governance > G30 - General; G - Financial Economics > G2 - Financial Institutions and Services > G20 - General; G - Financial Economics > G2 - Financial Institutions and Services > G22 - Insurance; Insurance Companies; G - Financial Economics > G3 - Corporate Finance and Governance > G38 - Government Policy and Regulation; G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation; G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation; G - Financial Economics > G1 - General Financial Markets > G10 - General

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