NU Online News Service, Jan. 18, 3:25 p.m. EST
Corporations that have captive-insurance companies domiciled in Europe need to be aware of the implications of Solvency II proposals, which could significantly increase the capital and compliance burden of European captives, according to a report by Fitch Ratings.
The report, "EU Captive Market At Risk From Solvency II—Credit Ratings could Become Critical for Captives Domiciled Offshore," finds that owners that retain captives in the EU will have to strengthen risk management and governance functions, and in some cases may require additional capital injections.
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