GREECE: All insurance companies pass their solvency test

Greek insurance companies have passed (with minor notes) the first European solvency test based on the new capital regulations known as Solvency II.

All insurers made the cut with a solvency rate far above 100 percent, which is the certificate of solvency for every insurance company regarding the sufficient maintenance of reserves for the coverage of their obligations toward their clients.

This stems from the solvency report published simultaneously in Greece and the rest of Europe by the insurance sector. It constitutes a harmonization on a European level, aimed mainly at the information of the insured through the publication of the solvency index of every company that is now based on single rules across Europe. Read the full story

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