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Conservativeness of Solvency II could harm buyers

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The European insurer and reinsurers federation, Insurance Europe, said that the conservativeness of Solvency II and its tendency to treat insurers like traders instead of long-term investors could harm consumers, long-term investment and the economy, Romanian Insurance 1asig.ro reports. 

"Important improvements are needed to ensure that the framework works as intended, justifies the huge cost and effort involved in developing, implementing and operating it, and to avoid unnecessarily disincentivising insurers from making much needed long-term investments in the European economy," said Olav Jones, deputy director general of Insurance Europe.

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