Solvency II: firms prepare for Pillar III scrutiny
Pillar III reporting requirements are set to cause upheaval for European insurers as they are forced to reveal much more about their business – not just to stakeholders and regulators but also to each other. Clive Davidson reports
With widespread progress reported on Pillars I and II of Europe’s Solvency II directive, the industry has been turning its attention to Pillar III. Much of the effort so far has been on the mechanics: how will the information be marshalled to complete the reporting templates? But there is a wider, and perhaps more worrying, question: how will the market react to what is reported? Pillar III requires disclosure of far more detailed information than any previous regime, much of it for the first
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