EU

Proposed new solvency margin requirements

On 30 October 2000, the European Commission issued two new proposals for directives to amend the solvency margin requirements for life and non-life insurance undertakings. The proposals form part of the 1999 EU Financial Services Action Plan, with the aim improve consumer protection through strengthening the current solvency margin requirements which date back to 1973 (non-life) and 1979 (life).