Insurance Europe calls for changes to UFR to wait until Solvency II review
Europe’s peak insurance body Insurance Europe says there is some misunderstanding around how Solvency II liabilities are calculated, particularly its relationship to the ultimate forward rate.
The UFR is not the actual discount rate used to value Solvency II liabilities which is, in fact, far lower than the UFR of 4.2%.
Olav Jones, deputy director general at Insurance Europe, said:
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