Solvency II harmonised the prudential framework for insurers and reinsurers in the EU and it entered into application on 1 January 2016. It has defined a single rule book for risk based capital requirements and advanced risk management.
In 2020, the European Commission is conducting a review of the Solvency II Directive in line with the legal mandate. This review comes after a technical review of the Level 2 measures under Solvency II in 2018.
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