23/05/2006 (Agence Europe) - The European Commission is holding a public hearing on the “Solvency II” project for the insurance sector in Brussels on 21 June. The audition aims to allow all stakeholders (insurance policy holders, industry, consultants, rating agencies, controllers and regulators) to have their say on the on-going work to draw up the directive for 2007. The work programme and a questionnaire are available on the web site of the Internal Market Directorate General. The “Solvency II” approach is the insurance equivalent of the Basel II approach for the banking sector. It is built on three pillars: definition of obligations on capital adequacy, risk management and publication of information promoting good financial management.