AEGON: Proposed EU Solvency II Directive Will Strengthen Europe's Insurance Industry
AEGON welcomes the publication of the European Commission's proposed new Solvency II framework directive. If adopted, AEGON believes this proposed directive would lead to the creation of one of the most advanced and effective solvency and supervisory systems in the world, strengthening the European insurance industry and enhancing its overall competitiveness.
"Solvency II will strengthen Europe's insurance industry by creating an environment that encourages sound risk management based on economic principles," said Jos Streppel, Chief Financial Officer and member of the Executive Board of AEGON N.V. "Solvency II will bring benefits to all the industry's stakeholders, particularly to its many millions of customers and policyholders. With this new proposed directive, Solvency II will also allow insurance companies to manage their capital more efficiently."
AEGON has long supported the Solvency II process and, in the months to come, will continue that support. AEGON believes Solvency II will ensure not only more effective risk and capital management but also clearer, more harmonized industry regulation and a more level playing field for Europe's insurers.
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