Commission releases Solvency II directive

NEWS

Charlie McCreevy, the European Commission's Internal Market and Services commissioner, said: "This is an ambitious proposal that will completely overhaul the way we ensure the financial soundness of our insurers. We are setting a world-leading standard that requires insurers to focus on managing all the risks they face and enables them to operate much more efficiently. It's good news for consumers, for the insurance industry and for the EU economy as a whole."

The directive contains only the high

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