【出版时间及名称】：2009年11月欧洲保险行业研究报告
【作者】：摩根斯坦利
【文件格式】：PDF
【页数】：29
【目录或简介】：
Solvency 2 – Part 1: What is Solvency 2, and what is
going to happen next? We find ourselves increasingly
discussing the implications of Solvency 2 with our clients,
although the outcomes from this substantial overhaul of
insurance capital regulation are far from clear.
Therefore, we have decided to split our investigation into
two parts.
In Part 1 this week, we provide an outline of
Solvency 2 and recent news flow. We start from the
basics in describing the structure of Solvency 2 and its
differences with Solvency 1, the timeline of events and
recent proposals that suggest a lurch towards more
conservative capital requirements.
In Part 2, next week, we will take a more detailed
look at the key controversies and debates emerging
from recent proposals for the practical implementation of
Solvency 2. These include the proposed increase in the
strength of capital tests, the eligibility of hybrid capital,
the ‘illiquidity premium’ and the ‘equivalence’ of capital
regimes outside of the EU.
Charts of the week: We update corporate bond and
structured credit price charts for the year to date.
Most Preferred List: We make no changes this week.
Fat Tail Fun: Congratulations to Trevor Petch who
identified Travelers as one of the first travel insurance
companies. This week’s question, what is the
Lamfalussy process?