Solvency II minimum capital requirements proposed
Monday November 14 2011 | 07:07 AM
Solvency II’s first official consultation on reporting was launched November 8, 2011.
The consultation proposes what captives calculation of minimum capital requirements should be, which differs for life insurance, reinsurance and non-life insurance.
The paper proposes an absolute minimum floor of €3,200,000 for life insurance undertakings, including captive insurance undertakings.
€2,200,000 is the proposed minimum capital requirement for non-life insurance undertakings, including captive insurance undertakings.
For reinsurance undertakings €3,200,000 is the suggested requirement for commercial reinsurance is €3,200,000 but the minimum capital requirement for captives would be no less than €1,000,000.
The European Insurance and Occupational Pensions Authority (EIOPA) has asked market participants and insurance and reinsurance stakeholders to respond.
The consultation period will close on January 20, 2012 at 6pm Central European Time.
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Article compliments Captive Review
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