Asia Risk Congress 2011: Solvency II hampering European insurers in Asia
Solvency II insurance rules have created an ‘unlevel playing field’ for risk-based capital structures in the Asia-Pacific region, with European insurers uncompetitive in some areas compared with Asian and north American peers
Chief risk officers at three leading European insurers believe there is still an unlevel playing field in Asia for risk-based capital (RBC) structures, leading to difficulties for their firms in competing in some product areas compared with local and international insurers operating in the region.
"It's hard to argue that it doesn't make sense to base your capital on the amount of risk you take," Mark Stamper, regional risk officer at Axa Asia, said during an insurance CRO panel at the Asia Risk
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