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Solvency II Impact on the Romanian Insurance Industry

Author

Listed:
  • Aurora Elena Dina (Manolache)

    (Bucharest University of Economic Studies)

Abstract

The article provides a quantitative evaluation in which is investigated the impact of the Solvency II on the Romanian insurance industry after three years of the implementation of the new insurance regulatory framework. The impact assessment was performed based on the main prudential indicators concerning the capital requirements (SCR and MCR) and Own Founds before and after Solvency II application. The analysis results shown that the new regulatory regime had a positive impact on the solvency position of the Romanian insurance industry. At individual level, after three years since the new framework became effective, all insurance companies that carrying out business on the local market have complied the regulatory capital requirements. Moreover can be observed a capital optimization trend among Romanian insurance companies. The aggregated structure of the eligible own funds to cover capital requirements shown a high quality of capitalization which indicates a sufficient absorbing capacity of losses.

Suggested Citation

  • Aurora Elena Dina (Manolache), 2019. "Solvency II Impact on the Romanian Insurance Industry," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 720-726, December.
    • Handle: RePEc:ovi:oviste:v:xix:y:2019:i:2:p:720-726
    as

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    File URL: http://stec.univ-ovidius.ro/html/anale/RO/wp-content/uploads/2020/02/Section%20V/15.pdf
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    References listed on IDEAS

    as
    1. Laura Elly NAGHI, 2013. "Influence of the prudential supervision over the capitalization of the Romanian insurance market," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(579)), pages 113-128, February.
    2. repec:agr:journl:v:2(579):y:2013:i:2(579):p:113-128 is not listed on IDEAS
    3. Emilia Clipici, 2012. "Solvency Ii – The New Eu Solvency Regime On The Insurance Market," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 11(2), pages 112-119.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Solvency II; Romanian insurance industry; SCR; MCR;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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