CEA welcomes European Parliament support for review of solvency regime for pension funds
17 February 2011
The CEA has long campaigned for the principle of “same risks, same rules” to be applied to the regulations covering life insurers, IORPs and mutual funds offering guaranteed benefits.
“The CEA supports the Parliament’s view that there should be a review of the outdated solvency rules that currently govern institutions for occupational retirement provision (IORPs), and that risk-based principles such as those that underlie the new Solvency II regime could be a valuable starting point,” said Michaela Koller, CEA director general.
The Parliament likewise recognises that achieving a level regulatory playing field and consistency between prudential regimes would better serve consumers.
“The CEA also welcomes the Parliament’s support for an impact assessment on the application of Solvency-II type, risk-based principles to IORPs,” said Koller.
© CEA - Comité Européen des Assurances
