Warm words from van Hulle on counter-cyclical tools, but questions remain
Calls for guidance as FSA provides relief to insurers on dual-capital model concerns
The European Commission’s (EC) head of insurance and pensions has provided some hope to the insurance industry that some of its concerns over the mechanisms to counter pro-cyclicality will be addressed. But Karel van Hulle has warned that the Commission will not make major changes to the draft rules.
Speaking at an industry conference, van Hulle said there was still work to be done to refine the package of measures aimed at removing artificial volatility for long-term business under Solvency II
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