Chicago — In 1815, Napolean’s grand ambitions came to an end in a muddy field outside Waterloo, Belgium. In November, the plans to redefine insurance regulations of the 27 European Union nations under a framework known as Solvency II almost suffered a similar fate in nearby Brussels.
At issue is the concept of group support, which adherents contend allows more efficient capital allocation for large cross-border insurance groups in order to meet solvency requirements.
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