Facts and figures : mutual and cooperative insurance in Europe Vol 2

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<title>Facts and figures</title>
<subTitle> : mutual and cooperative insurance in Europe Vol 2</subTitle>
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<namePart>Association of Mutual Insurers and Insurance Cooperatives in Europe</namePart>
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<publisher>AMICE</publisher>
<dateIssued>2018</dateIssued>
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<abstract displayLabel="Summary">This updated version of Facts & Figures covers the period from 2007 to 2015. Over these years, the European Union's insurance regulatory system was in the process of a fundamental restructure into a common system under the Solvency II project. At the same time, European financial institutions were feeling the profound effects of the global financial crisis 20072008. Weak macroeconomic conditions persisted across many of these years, characterised by low levels of economic growth in the Eurozone coupled with a low interest rate environment and rising unemployment levels. Although the European insurance market overall proved resilient to the prevailing challenges, concerns over the sector's potential to negatively impact  economic conditions and aspects of policyholder protection increased the breadth and depth of the Solvency II requirements, with a concomitant threat to the sustainability of insurance entities operating in Europe. The mutual and cooperative insurance industry ranges in size and activity from some of the smallest European insurers to some of the largest, sharing the principles of solidarity and satisfying their members' needs rather than providing a return on capital to external investors. Challenges emanating from the changes to the regulatory system are faced by the whole sector, irrespective of size. It is, however, the smaller entities which are facing the greatest challenge from the Solvency II requirements. Future studies will show how this impact may have changed the mutual insurance landscape in Europe as those challenges force small mutual insurers to follow a variety of adaptation strategies.</abstract>
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<topic>Mutualidades de seguros</topic>
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<topic>Cooperativas de seguros</topic>
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<topic>Estadísticas</topic>
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<geographic>Europa</geographic>
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