Searching for stability


Insurers across Europe are preparing for the introduction of the Solvency II capital adequacy directive in 2012, but some fear the new framework will expose them to damaging fluctuations on their balance sheets.

In particular, the use of market valuations set to be imposed by Solvency II (in some respects, similar to the approach for bank trading books under Basel II) could cause the same pro-cyclical accounting volatility experienced by banks during the credit crisis, argues Tom Wilson, chief

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