Towards a Proposal for a European Directive on Financial Conglomerates
The European Commission as well as the supervisory authorities of the banking and insurance sectors are concerned about the stability and solvency of diversified groups within the financial sector. The European commission as well as the Economic and Social Committee state that the increasingly close ties between insurance companies and other financial institutions within the so-called financial conglomerates mean that appropriate prudential measures are necessary in this respect. At the same time they are looking for a level playing field which also encompasses comparable or even integrated approaches towards solvency regulation and supervisory mechanisms.
KeywordsParent Company Equity Capital Insurance Sector European Directive Insurance Group
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