Measures for regulating long-term guaranteed products under Solvency II must allow firms and supervisors a degree of flexibility, insists Burkhard Balz, a member of the European Parliament and rapporteur for Omnibus II.
Speaking at Insurance Europe's 2013 conference in Rome, Balz argued that the diverse nature of the European insurance industry meant the final calibration of Solvency II's requirements for these products would have to be adaptable to different national and market contexts.
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