McCreevy calls for end to supervisory barriers

European commissioner for internal market Charlie McCreevy said the European Commission wants Solvency II to create “genuine harmonization” amongst Europe’s 25 member states. Speaking at a hearing organized by Ceiops, Mr McCreevy said he supported a high level of harmonization that will allow insurers to be more competitive internationally and he also said that he wants Solvency II to feed the development of a world-wide standard.