Solvency II: The journey so far

Olav Jones

Insurance Europe is the European insurance and reinsurance federation. It was founded in 1953 under the name Comité Européen des Assurances (CEA) to represent the interests of Europe’s insurers at the Organisation for Economic Co-operation and Development (OECD). With the foundation of the European Community and its evolution into the European Union, the CEA steadily shifted its focus and activities to Brussels, and changed its name to Insurance Europe in 2012.

Insurance Europe has 32 full members – the national associations of 27 EU countries and five non-EU markets (Iceland, Liechtenstein, Norway, Switzerland and Turkey) – and two associate members (San Marino and Serbia). Through our members, Insurance Europe represents over 5,000 companies that account for approximately 95% of all insurance premium income in Europe. They include all types of (re)insurance companies, such as pan-European companies, monoliners, mutuals and smalland medium-sized enterprises (SMEs). Combined, their European operations generate premium income of €1,100 billion, employ over one million people and have about €8,600 billion in assets under management.11From Insurance Europe’s 2014 annual report.

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