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By Patrick HENNION, CEO ADDACTIS BeLux Pierre MIEHE, Deputy CEO ADDACTIS Worldwide
What are the key drivers behind the introduction of the Solvency II Directive? How have its provisions been received by insurers?
Patrick Hennion: Solvency II is a part of the wider ambition of the European Union to organise a common market for insurance. Part of this plan is to provide the same level of protection to all policyholders in Europe. This is a first step toward the creation of a unified market. Insurers have been associated with the elaboration of the Directive through the Lamfalussy Process. Some provisions have been well received while others have fuelled intensive discussions with regulators, especially for long-term guarantees. Not all questions...
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