Concerns that the use of government bonds, rather than swaps, rates to determine the risk free rate to calculate liabilities - as part of the fourth iteration of the Quantitative Impact Study (QIS4) - could result in an uneven playing field among European Union insurers were raised at the public hearing in Brussels at the end of January.
As part of a panel discussion on QIS4 and Solvency II, Gerard de La Martiniere, chairman of the European Insurance Association (CEA), said that the QIS4's use of
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