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Solvency II: Globalisation of Insurance Regulation

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May 2011

It is a time of interesting changes in both the European and US insurance regulatory frameworks. As is well known, in Europe, Solvency II promises a fundamental review of solvency and risk management standards across the European insurance and reinsurance industry, replacing 14 existing EU insurance directives which make up the ‘Solvency I’ regime with a single one, aimed at achieving a high degree of regulatory convergence across Europe. At the same time, similar changes are afoot in the United States. This article provides a short summary of some of the potential effects of these changes.

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