Europe: Solvency II to drive insurance mergers and acquisitions in 2015, experts say
Posted On: Dec. 16, 2014 12:00 AM CSTExperts have said that the European Union's Solvency II rules could drive mergers and acquisitions among the 5,000 insurers in the region in 2015, reports Reuters.
The European Insurance and Occupational Pensions Authority's recent stress test revealed that 14% of insurers would fail to meet the key solvency threshold if the rules had been applicable now.
The rules would come into effect in January 2016.
"Solvency II has driven some M&A activity and this may well accelerate in the lead-up to implementation of the directive," said an official.