Applying lessons learnt from deficiencies in the basel accords to Solvency II
Solvency II is the new European Union (EU) legislation that will review the capital adequacy regime for the insurance industry. Considerable progress has been made in the banking sector with the implementation of the Basel Accords (Basel). The implementation of Solvency II, therefore, brings with it...
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doaj-a6f9b881f4b045129a935caa5afc404c2021-03-02T09:32:45ZengAOSISJournal of Economic and Financial Sciences1995-70762312-28032013-07-016230932810.4102/jef.v6i2.262200Applying lessons learnt from deficiencies in the basel accords to Solvency IIJohann Jacobs0Gary van Vuuren1School of Economics, North-West UniversitySchool of Economics, North-West UniversitySolvency II is the new European Union (EU) legislation that will review the capital adequacy regime for the insurance industry. Considerable progress has been made in the banking sector with the implementation of the Basel Accords (Basel). The implementation of Solvency II, therefore, brings with it an opportunity for the insurance industry to assess the successes, weaknesses and shortcomings experienced by the banking sector's implementation of Basel so as to learn from them and ensure that Solvency II's implementation duplicates the successes and avoids the failures of Basel's. This article critically explores weaknesses and failures of Basel which were exacerbated and/or exploited by the financial crisis of 2007-2010 and provides advice on how these might be mitigated or avoided in the implementation of Solvency II.https://jefjournal.org.za/index.php/jef/article/view/262basel, banksregulatory capitalSolvency IIfinancial crisisinsuranceregulation |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Johann Jacobs Gary van Vuuren |
spellingShingle |
Johann Jacobs Gary van Vuuren Applying lessons learnt from deficiencies in the basel accords to Solvency II Journal of Economic and Financial Sciences basel, banks regulatory capital Solvency II financial crisis insurance regulation |
author_facet |
Johann Jacobs Gary van Vuuren |
author_sort |
Johann Jacobs |
title |
Applying lessons learnt from deficiencies in the basel accords to Solvency II |
title_short |
Applying lessons learnt from deficiencies in the basel accords to Solvency II |
title_full |
Applying lessons learnt from deficiencies in the basel accords to Solvency II |
title_fullStr |
Applying lessons learnt from deficiencies in the basel accords to Solvency II |
title_full_unstemmed |
Applying lessons learnt from deficiencies in the basel accords to Solvency II |
title_sort |
applying lessons learnt from deficiencies in the basel accords to solvency ii |
publisher |
AOSIS |
series |
Journal of Economic and Financial Sciences |
issn |
1995-7076 2312-2803 |
publishDate |
2013-07-01 |
description |
Solvency II is the new European Union (EU) legislation that will review the capital adequacy regime for the insurance industry. Considerable progress has been made in the banking sector with the implementation of the Basel Accords (Basel). The implementation of Solvency II, therefore, brings with it an opportunity for the insurance industry to assess the successes, weaknesses and shortcomings experienced by the banking sector's implementation of Basel so as to learn from them and ensure that Solvency II's implementation duplicates the successes and avoids the failures of Basel's. This article critically explores weaknesses and failures of Basel which were exacerbated and/or exploited by the financial crisis of 2007-2010 and provides advice on how these might be mitigated or avoided in the implementation of Solvency II. |
topic |
basel, banks regulatory capital Solvency II financial crisis insurance regulation |
url |
https://jefjournal.org.za/index.php/jef/article/view/262 |
work_keys_str_mv |
AT johannjacobs applyinglessonslearntfromdeficienciesinthebaselaccordstosolvencyii AT garyvanvuuren applyinglessonslearntfromdeficienciesinthebaselaccordstosolvencyii |
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