Solvency II - Solvency II to prompt move to branch structures

The omission of the group support mechanism from the proposed draft of the Solvency II directive will prompt insurers to move from a subsidiary to a branch-based organisational structure as companies seek to maximise the fungibility of capital, according to a report by rating agency Fitch.

In a report entitled 'Solvency II: A great leap forward', the agency stated group support's omission from the directive "may be viewed as a backward step for the recognition of capital fungibility for European

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