Insurance EuropeInsurance Europe
Position Paper
Insurance industry key positions on 2020 review of Solvency II

Solvency II is strongly supported by the insurance industry. The economic, risk-based framework has proved its value since it was first applied in January 2016. However, the framework is excessively conservative, contains some measurement flaws and places excessive operational burdens on companies, which create unnecessary costs and barriers to the provision of — in particular — long-term products and investments.

The Solvency II review should not lead to an increase in overall capital requirements. For certain products, a better reflection of their real risk should lead to a justified reduction in capital requirements.

This document sets out the European insurance industry's key positions for the 2020 review of Solvency II.

Published 28 October 2020
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