With a new task. It is special to be here at the start of this new resolution regime. And to help this new reality take shape. The Netherlands is one of the first countries in Europe to implement a resolution regime for insurers. Why did we decide to move forward on a national level?
One of the reasons was that our old toolkit had several shortcomings. Some instruments were not available, or could only be used in limited ways. These shortcomings became very clear when Dutch financial group SNS REAAL, ran into problems in 2013. The government had to step in, and the banking and insurance group was nationalized.