It is hard to know who to believe. German insurers and their advisers are saying privately that the country’s regulator, Bafin, is planning to keep investment restrictions even after Solvency II supposedly sweeps existing rules from the German statute book. Bafin says that simply isn’t the case.
Firms say the regulator has sent a confidential draft document to the German Insurance Association (GDV) outlining its intention to keep investment restrictions that have been in place under local laws,
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