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EU insurers urge regulator to simplify rules

EU insurance rules should promote innovation and enable consumers, companies and new market players to take advantage of the opportunities that digitalization can offer, Law360 writes.
EU insurers urge regulator to simplify rules

European insurers urged Brussels to change the rules that force them to hold €189 billion of additional capital rather than investing in liquid instruments. The corresponding letter was published on the website of the Association of European Insurers.

In particular, the document states that regulators should review and adapt supervisory requirements to ensure that they are innovative and digital-oriented, technologically neutral, and promising enough to meet the digital age and encourage digital innovation.

In its letter, the Association mentioned the fact that the risk list in the supervision is swollen, therefore, insurers deem it advisable to amend the existing provisions under which it is impossible to make investment transactions.

Source: https://www.law360.com/insurance-uk/articles/1289689/eu-insurers-call-for-easier-capital-rules-to-spur-investment

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