Following the publication of the European Commission’s Solvency II review and proposal on a recovery and resolution framework for insurance and reinsurance undertakings, AMICE is assessing the proposals and their potential impact on mutual/cooperative insurers. We believe that the Solvency II review has provided an opportunity to fine tune certain elements of the current legislation to better reflect the mutual and cooperative insurance model. In particular, AMICE recognises the progress on areas such as proportionality which are important for mutual and cooperative insurers, and we are in the process of assessing the recommendations in that light.

AMICE also reiterates that current legislative arrangements on insurance company solvency are robust and sufficient to protect European insurance policyholders.

Visit AMICE’s Solvency II policy page