Chief financial officers of 20 major European insurers asked that capital rules under the European Union's planned Solvency II capital regime for insurers be more balanced.

"A number of outstanding industry concerns remain to be addressed in order to achieve a balance that will result in continued consumer protection, support financial stability and, at the same time, enhance the competitiveness of the European insurance industry," so that it can offer risk protection to its customers at an appropriate cost, the European Insurance CFO Forum said Monday.

The forum was started by the CFOs of 20 major European insurance companies. Currently, European insurers are participating in the fifth quantitative study aimed at assessing the state of Solvency II.

This story has been reprinted with permission from American Banker.

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