Mastering mismatches
ALM
North America's reluctance to embrace risk-based capital (RBC) rules for insurance has bred a thriving reinsurance market and left Solvency II in the vanguard of RBC reform. But European insurers are not alone in making the transition to a risk-based future - Asian regulators are also embracing market consistency as a foundation stone of supervision.
RBC rules are already established in some jurisdictions. The Australian Prudential Regulation Authority implemented them in July 2002 as part of a
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