Nordic insurers are strongly against EC’s proposal on IRRD

The Nordic insurance industry (Insurance Sweden, Finance Finland, Finance Iceland, Insurance & Pension Denmark and Finance Norway) are strongly against European Commission’s (EC’s) proposal of Insurance Recovery and Resolution Directive (IRRD).

This is an overly burdensome, too extensive, and disproportionate framework for recovery and resolution of (re)insurance companies in the Nordics and the rest of EU/EEA, with no evident benefits for Nordic policyholders nor for the financial stability in the Nordic region.