Brussels, 11/12/2015 (Agence Europe) -On Thursday 10 December, the European Commission asked Cyprus immediately to transpose the 'Solvency II' directive (2009/138), which brings in risk-based prudential rules for the insurance sector.
Applicable from January 2016, the legislative package aims to recalibrate the capital requirements imposed on the insurance industry on the basis of the financial risks it takes. Amongst other things, contra-cyclical measures have been brought in limiting...