On the cost of regulation under Solvency II
This paper shows that insurers can meet solvency requirements without a great sacrifice to the expected return either of themselves or their policyholders and thus that the regulation through Solvency II is not very costly
Regulatory authorities want to implement a new solvency framework in Europe, Solvency II. In order to meet the solvency requirement of Solvency II, life insurance companies and pension funds fear they will be unable to invest sufficiently in the equity market under the regulation of Solvency II, and will be forced to follow quite conservative risk management strategies. If this is the case, the cost of regulation subject to Solvency II is very high. Our objective is to investigate the validity
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