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"Solvency II is the most important regulatory innovation in the field of insurance in the past 20 years. The length of this project, the number of operators involved through impact studies and assessments, the adopted procedure and the wide range of innovations have created an atmosphere of great expectation around Solvency II entering into force. The adoption of a risk-based approach appears to be the most important innovation of the new regulatory framework because it determines important issues related to capital requirements and their supervision as well as their disclosure to the market. Capital Requirements, Disclosure, and Supervision in the European Insurance Industry provides an interesting analysis of Solvency II's issues by combining both thetheoretical approach and the empirical implications and effects on the European insurance industry. It discusses the new challenges facing insurance companies through the examination of its structure, the rules with which insurance companies operating inEurope have to be compliant, and their implementation. "--
List of contents
1. Capital Requirements, Disclosure and Supervision in the European Insurance Industry PART I: THE FRAMEWORK OF SOLVENCY II AND THE CHARACTERISTICS OF THE EUROPEAN INSURANCE MARKET 2. Solvency II Directive and the Key Features of the European Insurance Market PART II: SOLVENCY: REQUIREMENTS AND SUPERVISION 3. The Solvency Capital Requirement 4. The Supervision of Insurance Companies PART III: THE RELATIONSHIP BETWEEN REQUIRED REPORTING AND ACTUAL DISCLOSURE 5. The Regulatory Framework for Market Discipline 6. The Actual Disclosure 7. Solvency II: A Sea of Opportunities
About the author
Maria Grazia Starita is Lecturer in Financial Markets and Institutions in the Department of Management Studies and Quantitative Methods, University of Naples 'Parthenope', Italy, where she teaches Management of Insurance Companies and Corporate Finance. Her main research interests are insurance companies, pension funds, bank-firm relationship, disclosure, and Islamic finance.
Irma Malafronte holds a PhD in Banking and Finance from the University of Rome 'Tor Vergata', Italy. She conducts research in Financial Markets and Institutions in the Department of Management Studies and Quantitative Methods, University of Naples 'Parthenope', Italy. Her main research interests are insurance companies, disclosure, bank-firm relationship, and market discipline.
