THE EVOLUTION AND PERSPECTIVES OF IMPLEMENTING SOLVENCY II REQUIREMENTS ON THE ROMANIAN INSURANCE MARKET

Stefan Camelia () and Bursugiu Mihaela ()
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Stefan Camelia: “Constantin Brâncoveanu” University, Romania
Bursugiu Mihaela: “Constantin Brâncoveanu” University, Romania

Management Strategies Journal, 2013, vol. 22, issue Special, 178-184

Abstract: Solvency II represents a great challenge for the European Insurance Market, in the laborious approach of creating a unitary framework, based on uniform supervising standards, adjusted to the complex risks which the financial system meets. Domestic models of determining the capital demands offer a source of competitive advantage to the pro-active players who have started implementing coherent systems of risk management. The final objective of Solvency II is offering to its insured persons a high level of protection. In subsidiary, the new regulations /settlements will sustain the increase of the integrating degree and of the insurance market competition Within the European Union in order to improve the competition between the European insured persons at an international level

Keywords: Solvency; Insurance; Risk Management; FSA (search for similar items in EconPapers)
JEL-codes: G22 (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:brc:journl:v:23:y:2013:i:s:p:178-184

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