IRC’s CEO Oliver Tattan: Smaller European insurers should consider the option of subordinated debt as the date of Solvency II implementation looms.

BoE’s Executive Director for Insurance Supervision, Sam Woods, made a speech to the Association of British Insurers intended to clarify the Bank’s views on the adoption of Solvency II.

The U.K. insurance sector is likely to be pleased by the latest step toward the acceptance of the Insurance Distribution Directive by the European Union, according to Alexis Roberts, a partner in the London office of international lawfirm Pinsent Masons.

EIOPA has published the second set of draft Implementing Technical Standards (ITS) and Guidelines for Solvency II. The set covers different areas from all three of the Solvency II pillars.

Insurance has been elevated to new heights in the international financial arena; no longer playing second fiddle to the mighty banking and derivatives industries.

Stable financial markets have prompted European insurers to tap the capital markets in their efforts to lower the cost of capital and optimise levels of risk-adjusted capitalisation.

The Bank of England’s Prudential Policy Directorate has set out penalties for firms that fail to meet the Solvency II capital standards. BoE said that the 2 capital requirements introduced by Solvency II would act as trigger points in the regime’s ‘supervisory ladder of intervention’.

Report: “Europe’s Mutual Insurers Have Gained Market Share Since Global Crisis”

“Insurance Regulatory Capital, the debt capital provider established by Irish entrepreneur Oliver Tattan, is gearing up for a rapid expansion of its business.”