Solvency II Regulation Makes Good ‘Mutual’ Business Sense
Jonathan Evans, MP, is a keen supporter of the mutual insurance sector. Jonathan was the keynote speaker at the ICMIF Solvency II Solutions Seminar which took place in May 2012. Talking to ICMIFTV after the event Jonathan said that there would be real benefits for mutual and cooperative insurers coming out of Solvency II implementation. There will be better risk management and governance in the mutual sector.
Jonathan highlights how the new UK coalition government has recognised the importance of the mutual sector and wants to adopt policies that will encourage mutuals. He points out the importance of the financial mutual sector across Europe as it accounts for over a quarter of the overall insurance activity in the region. Jonathan believes that it is key that politicians, the sector and regulators recognise the importance of the mutual sector with regard to Solvency II.
Thank you for your comments Marie-Hélène
Jonathan Evans is trying to convince us that Solvency II is a good reform for mutuals but it sounds like he is trying to convince himself too. As we have said for a long time now, Solvency II goals are good but the all framework does not suit small and medium size entities or specialize entities, or long term business. even now large joint stcok company are very critical about Solvency II.