This was considerably higher than the corresponding share of the sum of all legacy currencies at the end of 1998, which accounted for about 18%. Overall, the evolution has been gradual: the share of the euro increased during the first five years following the introduction of the euro and has since remained relatively stable.
Provisions within IPSA distinguish between life insurers and non-life insurers by having separate solvency standards as well as the statutory fund requirements for life insurers. Some prudential requirements of some overseas jurisdictions are recognised under IPSA in the form of a limited range of exemptions.