S&P predicts Solvency II more damaging than subprime
Solvency II – the European Union’s proposed set of regulatory requirements for insurers – will have a greater effect on European insurers than the credit crunch has.
Standard & Poor’s says losses in the subprime mortgage market will have a limited effect on Europe’s insurers while Solvency II could cause a massive shake-up of the industry.
The ratings agency says the regulations could prompt consolidation and force more than a quarter of European insurers to take major strategic decisions.
Standard & Poor’s says losses in the subprime mortgage market will have a limited effect on Europe’s insurers while Solvency II could cause a massive shake-up of the industry.
The ratings agency says the regulations could prompt consolidation and force more than a quarter of European insurers to take major strategic decisions.