CEIOPS outlines framework option for MCR
Failure to reach common agreement over the correct approach to the minimum capital requirement (MCR) as part of the third Quantitative Impact Study (QIS3) has resulted in CEIOPs publishing a paper outlining the options in a bid to reach an industry consensus as part of QIS4. CEIOPS will be running the fourth Solvency II QIS4 between April and July 2008, with results to be published by November.
According to Thomas Steffen, chairman of CEIOPS, the MCR is expected to be the major capital element on
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