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Solvency Ii – The New Eu Solvency Regime On The Insurance Market

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  • Emilia Clipici

    (Faculty of Economics, University of Pitesti, Romania)

Abstract

The main causes that lead to insurer’s solvency issues such as the underwriting, investment or reinsurance deficiencies have remained the same over time. However, their incidence is increasing, as well as their complexity. Solvency II, the latest directive in this field is intended to be the legislative act that will settle the solvency issue on the European insurance market. The Solvency II Directive will lead to a new approach to the supervision process at the common European level, based on economic principles for assessing the assets and liabilities. It will use common principles when taking into account the multitude and variety of risks to which the company is exposed. These will form the basis for establishing the level of the capital and updating the calculation methods for the capital of the insurance companies under unusual circumstances. The article summarizes the Directive and describes some difficulties arising in connection with its rendering and implementation at the Member State level.

Suggested Citation

  • Emilia Clipici, 2012. "Solvency Ii – The New Eu Solvency Regime On The Insurance Market," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 11(2), pages 112-119.
    • Handle: RePEc:pts:journl:y:2012:i:2:p:112-119
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    File URL: http://economic.upit.ro/repec/pdf/2012_2_11.pdf
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    References listed on IDEAS

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    1. Mihai Aristotel Ungureanu & Mihaela Gruiescu & Corina Ioanăş & Dragoş Dan Morega, 2010. "The Evaluation Of Risk Regarding Insurance. Statistical Methods Of Risk Dissipation," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 10(2), pages 353-362.
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    Cited by:

    1. Ventsislava Chobanova, 2015. "Bulgarian General Insurance Companies from Solvency II Perspective," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 2, pages 117-125, April.
    2. Aurora Elena Dina (Manolache), 2019. "Solvency II Impact on the Romanian Insurance Industry," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 720-726, December.

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      More about this item

      Keywords

      solvency; insurance; insurer’s risks;
      All these keywords.

      JEL classification:

      • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
      • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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