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Solvency II Directive 2009 (2009/138/EC) is a Directive in European Union law that codifies and harmonises the EU insurance regulation. Primarily this concerns the amount of capital that EU insurance companies must hold to reduce the risk of insolvency.
The Solvency II Directive 2009 is directed particularly at insurance firms, requiring minimum capital and best practices in valuation of assets, again to avoid insolvency. [17] The Capital Requirements Directives contain analogous rules, with a similar goals, for banks.
Minimum capital is a concept used in corporate law and banking regulation to stipulate what assets the organisation must hold as a minimum requirement. The purpose of minimum capital in corporate law is to ensure that in the event of insolvency or financial instability, the corporation has a sufficient equity base to satisfy the claims of creditors.
Aktiebolag – AB: a private limited company ≈ Ltd. (UK). The minimum capital is SEK 25,000. Publikt aktiebolag – AB (publ): public limited company ≈ plc (UK). The minimum capital is SEK 500,000. Bankaktiebolag: joint-stock bank company; Försäkringsaktiebolag: joint-stock insurance company
At the heart of the prudential Solvency II directive, the own risk and solvency assessment (ORSA) is defined as a set of processes constituting a tool for decision-making and strategic analysis. It aims to assess, in a continuous and prospective way, the overall solvency needs related to the specific risk profile of the insurance company.
Solvency II (2009/138/EC) Art.172 – Title I-for third country reinsurers in the EU: equivalent treatment of their activities: Bermuda, Switzerland Art.227 – Chapter VI of Title I-for EU insurers in third countries: solvency rules for calculation of Capital Requirements and Own Funds: Australia, Bermuda, Brazil, Canada, Japan, Mexico and ...
Capital Requirements Regulation 2013; ... Minimum capital; O. Own risk and solvency assessment; R. Regulatory capital;
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