The Impact of Uniform Prudential Regulations Implemented at the Level of European Insurance Industry

摘要

While the financial markets have to face systemic and systematic risks, especially the insurance industries, the national supervisory authorities intend to implement regulation systems as uniform as possible at regional level and in the same time as conservatory as possible from the point of view of the risks accepted. The present paper intends to accurately analyze the regulation systems of important insurance markets (as tradition or volume of premiums) – such as RBC, SST, Solvency II in order to stress the similarities of these models but more important the differences that generated a different rigidity degree of the insurance companies, in other words, a different minimum capital requirement. The paper intends to illustrate the financial and organizational impact of the European model Solvency has on the insurance companies, through its supplemental requirements, introduced by the supervisory authorities as a reaction to the recent financial crises.