Solvency II will unfairly penalise run-off companies, warns ARC
The current format of the Solvency II directive will unfairly penalise insurers in run-off companies and could lead some into insolvency, warned the London-based Association of Run-Off Companies (ARC).
ARC chairman, Paul Corver, said the cumulative effect of capital requirements contained in the guidelines for the Committee of European Insurance and Occupational Pension Supervisors' next round of quantitative impact studies meant Solvency II would have much higher capital requirements for run
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