Based on the Basle Agreement applicable to banks, the EU has drawn up a new regulatory code for managing the Risks of Insurance companies. The final version of Solvency II should be approved in 2007, for application in 2010. Compared with the Solvency I Directive, currently in force, Solvency II generalises the measuring of operational Risk introduced by the Solvency Capital Requirement and will Lead to increased control by the regulator.

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