"reinsurance" Spanish translation
Supervision of reinsurance is important for financial stability, as well as for the standing of European Union reinsurers internationally.
Whilst reinsurers were subject to national supervision rules, the reinsurance sector was one of the few financial fields without any major European prudential legislation.
In the case of the latter, this will be done by communitarising a system of insurance and reinsurance to be cofinanced by the farmers, the Member States and the EU via the EAFRD.
Similar translations for "reinsurance" in Spanish
Usage examples for "reinsurance" in Spanish
The Dutch presidency is going to push for the reinsurance directive.
And fourthly, the Commission also includes re-insurance companies in its proposal.
Collateralisation is highly costly for reinsurance companies, as it restricts the investment strategy.
The text is a compromise, but it has been accepted by all parties, including the reinsurance industry.
The first question is, what is reinsurance?
The first is the question of whether it is appropriate for us to limit the scope of the directive’ s rules to reinsurance undertakings.
European reinsurance undertakings have to compete in particular with North American and Australian rivals.
Nor is the aim of this proposal to impose capital requirements on re-insurance companies and insurance holding companies.
The second point I should like to address is the need for obligatory reinsurance of natural disaster insurance policies, of which there are 14 different types.
The single authorisation will allow reinsurance undertakings to work throughout the Community under the freedom of establishment and free provision of services.
Finally, the proposal will also constitute a useful tool that will help give the European Union reinsurance industry effective market access to third countries.
Reinsurance protection is thus a further quality characteristic for consumer protection in the insurance sector.
The 1 % from modulation proposed by the Commission will not be sufficient for a reinsurance scheme, let alone setting up a system of prevention and indemnification.
A majority of the Committee, therefore, voted against excluding re-insurance companies, but also against a Member State's right of choice.
It is undisputed that the security of re-insurance companies, that is, their capability, is of decisive importance to the capability of the first insurer.
This ultimately leads to more expensive reinsurance services, which could increase insurance premiums for policyholders.
At present, the legislation applies where reinsurance is written, meaning that the market players themselves choose which legislation is most appropriate.
Various Member States, however, make re-insurance companies subject to their national regulations, individual supervision and group supervision.
That is why we have to design reinsurance systems, and the European Union must also provide an aid framework that allows both private solutions and public coverage for extreme risks.
9/ 11 and its effects on the World Trade Center were insured by large reinsurance companies such as Lloyds and others for the kinds of catastrophes that we had hoped would not occur.
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