Commission Services publish study on reinsurance supervision
The Commission Services have published on 12 February 2002 a study on reinsurance supervision. The study has been prepared by KPMG Deutsche-Treuhand-Gesellschaft.
The reinsurance sector has seen important changes during the last few years. The concentration to a few large players has continued through mergers and acquisition, new financial products have been developed and new information technology tools have emerged. The tragic events of 11 September 2001 will also have strong repercussions on the reinsurance industry, both as regards practices and available capacity. These developments make it even more important that a solid system of reinsurance supervision is in place to ensure that companies fulfil their obligations.
In a changing market it is important that supervisory practices keep pace with developments. In the EU there is currently no harmonised framework for reinsurance supervision. In January 2000, the Commission Services and Member States therefore decided to initiate a project on reinsurance supervision to investigate the possible establishment of a harmonised EU system.
As a thorough investigation of all the different aspects involved is very complex and extensive, Internal Market DG has commissioned a study to provide the working groups with background research and discussion material. The Commission Services believe that this study may be of clear interest to supervisors, the insurance industry, consultants, and other parties. We are therefore pleased to make the study available for download at this website.
If you have comments on the study or the reinsurance project, please contact us at: markt-F3@ec.europa.eu