Insurance Europe: Better recognition of reinsurance in standard formula

27 May 2013

Insurance Europe and the Reinsurance Advisory Board (RAB) have written to the European Commission setting out proposals for the treatment of non-proportional reinsurance in the Solvency II Level 2 implementing measures.

The letter stresses the need for the simplification of the alternative undertaking specific parameters (USP) methods to recognise non-proportional reinsurance in the standard formula appropriately.

It also highlights that the methods should recognise the different impact of non-proportional reinsurance on large and small claims.

Full letter

 

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