The huge importance of the insurance sector about the European economy enforced the European Commission to undertake general improvement of the existing legislation. Through the new Solvency II Directives there are going to be implemented new market-based approaches for evaluation of the assets and liabilities. Moreover, better and more sophisticated risk management techniques are going to be used. Substantial part of the new law is the implementing of the so called Solvency Capital Requirement which is strongly dependent on the risk profile of the undertaking. New, more major role is given to the supervisory authorities who are supposed to control the firms in the insurance sector. Undoubtedly the new legislation framework will influence not only the companies but also the policyholders, because of the strict rules which are implied. The protection of the customers is one of the main objectives. Through new products these all duties will be met.
|Educations||MSc in Finance and Strategic Management, (Graduate Programme) Final Thesis|
|Number of pages||72|