EC’s VIF approach brings extra €100bn of available capital reserves into Tier I
The European Commission's decision to include value-in-force (VIF) business in Tier I capital – contrary to advice from the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) – was welcomed by the Chief Risk Officer's Forum, which says this means €100 billion of the industry's total capital reserves will no longer be excluded from available capital.
Ceiops had originally recommended that VIF – which represents expected future profits from existing business – only be
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