Fears that mutual insurers will not qualify for the group support aspect of Solvency II has led two Socialist MEPs to propose amendments to the definition of groups. The amendments would enable mutuals and co-operative companies to potentially benefit from the same diversification and cross-group support as listed firms.
The main driver for reform comes from France - where a similar legal statute, SGAM, currently operates - Finland, Portugal, Italy and Belgium. Crucially, given the internecine
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