Eiopa's Bernardino: stress tests are Solvency II trial run
New regime will introduce regular capital tests - insurance industry doesn't have credibility problem, Eiopa chair says
The stress tests planned for European insurance companies later this year are meant as a trial run for new regulatory oversight, not to assess capital levels, according to Gabriel Bernardino, chair of the newly created European Insurance and Occupational Pensions Authority (Eiopa).
Speaking exclusively to Risk, Bernardino says the insurance stress tests are fundamentally different to the stress tests carried out by banking regulators in the US and Europe. "We all know right now that in the
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