Solvency II a poor reflection of 'actual' capital – Moody's

Rating agency joins Fitch and S&P in questioning ‘uneconomic' elements of directive

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Moody's has joined other rating agencies in choosing largely to ignore solvency ratios under Solvency II – saying they give an uneconomic view of firms' capital positions.

In a December 10 report, the agency changed its position from March statements in which it mapped solvency ratios to its view on a firm's economic capital position – a view that influences the insurer's credit rating.

Moody's now says the credibility attached to "fully loaded" solvency ratios – which it will calculate withou

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