On Tuesday 20 December, the Member States’ ambassadors to the EU (Coreper) adopted their negotiating position (general approach) on the ‘IRRD’ directive on the recovery and resolution of insurance undertakings. This proposal will strengthen the Solvency II Directive with the aim of making the insurance and reinsurance sector more resilient and enhancing the protection of policyholders, taxpayers, the economy and financial stability in the EU.
“The Insurance Recovery and...