engleski

New European Solvency Regulation for Insurers and Innovative Risk Managament Tools

The new solvency regulation for insurers in the EU, known as Solvency II, that is planned to be implemented by 2010 will be characterized by an integrated risk approach taking into account all risks an insurer is facing. Solvency II rules rely on the development of a better understanding and managing of risk. It is expected that the Solvency II will promote the use of innovative risk management tools. Therefore, there is a need for better understanding of alternative risk transfer methods, one of which is insurance securitization, especially for the new EU members. In this paper the author provides an overview of the insurance securitization process, its benefits and risks. Particular attention is paid to the factors that are prerequisites of insurance securitization future development.

Solvency II; insurance companies; insurance securitization

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