Europe - EU reinsurance directive published

A draft reinsurance directive has been published ahead of schedule by the European Union (EU) and it appears to support the argument that capital requirements for reinsurers should be set at the same level as those for insurers.The document is likely to be welcomed by the UK's largest insurers, who have argued that there should be no differentiation between the capital requirements for the two classes of business.The draft directive sets out, for the first time, a framework for the regulatio