SOLVENCY MARGINS
February 1st, 2002
BY KEITH NUTHALL
EUROPEAN Union ministers have approved a new 'solvency margin' directive that boosts by 50 per cent the minimum financial reserves that must be retained by EU-registered insurance companies writing aviation industry policies, which Brussels deems "a particularly volatile risk." The aim is to promote confidence that all European insurers can cover the most unexpected of circumstances, encouraging the development of an EU insurance market.
EUROPEAN Union ministers have approved a new 'solvency margin' directive that boosts by 50 per cent the minimum financial reserves that must be retained by EU-registered insurance companies writing aviation industry policies, which Brussels deems "a particularly volatile risk." The aim is to promote confidence that all European insurers can cover the most unexpected of circumstances, encouraging the development of an EU insurance market.
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