La solvibilità come strumento virtuoso di concorrenza tra imprese : Solvency II

This essay analyses the legal impact of the rules of the new Solvency II European Directive on the insurance activities and, more generally, on the insurance market now that the financial stability index is the so-called «overall solvency». According to this new scenario, the first two pillars introduce respectively new capital requirements for insurance industries and a new governance model that, on one side, can support the development of business activity and, on the other one, can evaluate undertakings' overall financial stability. The third pillar, instead, introduces disclosure duties towards the Authority and towards the insurance market. Therefore, this essay is about the changes that are facing the insurance market and about the supports that insurance undertakings should adopt, in compliance with the Directive.