Insurance EuropeInsurance Europe
Solvency II

A new risk-based regime for Europe

As of 1 January 2016, Europe’s insurers are governed by a new set of rules called Solvency II. These rules aim to ensure that policyholders throughout the European Union enjoy the same level of protection, no matter where they buy insurance.  

Europe’s insurers have played a significant role in the development of these new rules and welcome their aims. However, insurers remain concerned that certain elements within Solvency II will produce unintended consequences, which could ultimately harm both insurers and their policyholders.

For example, the new rules unnecessarily increase the cost of making long-term investments. This reduces insurers’ ability to make such investments, which are crucial for providing good returns to our policyholders, and which underpin economic growth and stability in Europe.

Through engagement with policymakers and supervisors, however, Insurance Europe is working to ensure that the rules are adjusted so that Solvency II works as planned and unintended consequences are avoided. It is hoped that some of these improvements will be included in actions related to the Capital Markets Union project, and that others as part of Solvency II's review processes.

 

For more information, see also our Annual Report 2016-2017 article on Solvency II.

Related statistics
European insurers investment portfolio
Total insurers' investment portfolio, €bnGrowth rate, %
20077187.6
20086337.1-7.8
20097056.510.8
20107615.16.3
201177140.6
20128431.48.6
20139216.914.7
20149552.6-0.6
20159889.41.7
201610112.57.3
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url/node/6442
Candlestick

Hover over the bars for each data point, or click on a bar to see life or non-life premiums by country data.

Notes:
Nominal €-values at current end-of-year exchange rates
Nominal %-growth at constant end-of-year exchange rates 
Figures are for Domestic Market (business written on home territory by domestic companies, including subsidiaries + 3rd country branches), unless stated otherwise 
Size of the sample (as % of total premiums): 99.81%

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Olav Jones
Olav Jones
Deputy director general/Director, economics & finance
Cristina Mihai
Cristina Mihai
Head of prudential regulation & international affairs