On 1 January 2016 the Solvency II regime entered into force. It entails a new era for European insurers, including The Swedish Club.

The regime has a risk based approach to regulation and focus on quantitative capital requirements, internal governance, supervision, disclosure and transparency. The overall authority is EIOPA (the European Insurance and Occupational Pensions Authority) although it is down to local regulators such as the Swedish Financial Supervisory Authority to put it all into practice. The regime has taken 13 years to develop. A newsletter from EIOPA can be found here.