Insurance Risk Nordics: European supervisory culture needs to evolve

Authorities must adapt to challenge of Solvency II along with insurers


European regulators need to develop a more rigorous supervisory culture to effectively monitor firms under the Solvency II regime, said panellists at Insurance Risk Nordics in Stockholm.

The complexity and scale of the new rules will require regulators to become more hands-on in their dealings with firms, with an increased focus on on-site assessments. At present many regulators across Europe do not interact enough with the firms they supervise, according to Jan Parner, deputy director general a

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