The European Commission yesterday (4 October) approved a proposal

Series Title
Series Details 05/10/95, Volume 1, Number 03
Publication Date 05/10/1995
Content Type

Date: 05/10/1995

ensuring the solvency of an insurance company is not undermined if it is part of a larger insurance group. The draft directive specifies that information on insurance companies in a group must be more transparent, national controlling authorities must pool data, and double-gearing, which allows financial services firms to use the same capital base in a banking transaction and in an insurance activity, must be eliminated.

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