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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.
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.
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
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.
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ICAJ was established in 1965, three years after Jamaica gained its independence. The 1968 Public Accountancy Act was the statute for the incorporation of the ICAJ. In July 1980 the institute bought its property at 8 Ruthven Road, Kingston for the ICAJ headquarters. The ICAJ Secretariat facilities were formally opened on 18 January 1995.
A capital requirement (also known as regulatory capital, capital adequacy or capital base) is the amount of capital a bank or other financial institution has to have as required by its financial regulator. This is usually expressed as a capital adequacy ratio of equity as a percentage of risk-weighted assets.