Rigidities in labour and product markets, inappropriate fiscal policies and fragmented regulatory frameworks all have a negative impact on the economic conditions, proper functioning and growth potential of the euro area as a whole. Tackling these challenges has become a clear political priority over the last few years.
We at the CBB believes that sound insurance markets need to have appropriate regulatory framework, adequate accounting standards and a strong supervisory infrastructure, and proper corporate governance that should be long-term oriented focusing not only on shareholders returns, but also on protecting policyholders.