01/07/2020 (Agence Europe) – The European Commission launched, on Wednesday 1 July, a public consultation on the review of the Solvency II Directive, which lays down prudential rules for the insurance and reinsurance sector (see EUROPE 11460/14). In particular, the Commission wants to know whether the directive still offers "the right incentives for insurers to support the long-term financing of a strong, sustainable and resilient economic recovery in the EU, while ensuring that consumers' rights are protected", it said in a statement. The review will also be an opportunity to see how the insurance sector can contribute to the objectives of the European Green Deal and the Capital Markets Union. Depending on the responses received, the Commission is expected to present a legislative proposal in the summer of 2021. Interested parties have until October 21 to submit their comments to https://bit.ly/3eVWr9y (MF)