Press Release - MARCH 24, 2020
Best’s Commentary: EIOPA Information Request Points to Solvency II Changes for Insurers
FOR IMMEDIATE RELEASE
LONDON - MARCH 24, 2020
In its new Best’s Commentary, “EIOPA Information Request Points to Solvency II Changes for Insurers”, AM Best suggests that the potential changes outlined by the EIOPA document should be viewed as a package with different elements having offsetting effects on stated regulatory solvency ratios. The mix reflects competing pressures on EIOPA.
Tony Silverman, associate director, AM Best Europe Rating Services, said, “The EIOPA review can be seen as providing a menu of potential ingredients that, at least when taken together, might provide a pragmatic outcome for regulators. Nevertheless, insurers will be exposed to different strands of the review in varying degrees and there will be gainers and losers in terms of stated regulatory solvency ratios.”
EIOPA was originally scheduled to deliver its advice based on this review in June 2020, but the deadline for insurers to respond has been extended by two months as part of EIOPA’s reaction to the increasing disruption from the coronavirus (COVID-19) outbreak.
To access a complimentary copy of this commentary, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=295703 .
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.