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- Title
FINANCIAL STABILITY OF THE EU's INSURANCE COMPANIES.
- Authors
Ziemele, Jana; Voronova, Irina
- Abstract
The purpose of this research is to evaluate the system "Solvency II" as a tool to achieve financial stability in the insurance industry. The analysis and synthesis of scientific literature, logical and comparative analysis as well as monitoring and grouping methods have been studied in the research. The dialectical or economic phenomena and cognitive process method is used to research the subject. This paper examines the role of solvency in order to provide financial stability improvements into insurance companies, considering the factors for financial stability of the insurance mechanism. It also assesses the system "Solvency II" and the need for its implementation. The analysis of the new solvency system shows that the system "Solvency II", in case of its implementation, will reveal the true financial position of insurers as well as improve transparency and confidence in the whole sector. The introduction of risk-based regulatory requirements will ensure that fair balance is struck between strong policyholder protection and reasonable costs for insurers.
- Subjects
EUROPEAN Union countries; INSURANCE companies; SCIENTIFIC literature; COMPARATIVE studies; INSURANCE company finance; POLICYHOLDERS; ORGANIZATIONAL transparency
- Publication
Economics & Management, 2013, Vol 18, Issue 3, p436
- ISSN
1822-6515
- Publication type
Article
- DOI
10.5755/j01.em.18.3.4780