Solvency II volatility dampener ineffective for euro periphery

Inconsistencies in how the Solvency II volatility adjustment will work are becoming clear to insurers as they begin work on stress tests that were launched in April


The technical specifications for the European Union-wide insurance stress tests launched in April are reviving doubts about the usefulness of Solvency II's volatility adjustment for insurers.

Figures in the supporting documents for the stress tests published last week by the European Insurance and Occupational Pensions Authority (Eiopa) suggest that in a stress scenario the controversial dampener would fail to shield insurers in the euro periphery against most of the impact of market swings.


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