Capital Markets Union: Making it easier for insurers to invest in infrastructure

As a result of one of the first measures in the Capital Markets Union Action Plan, insurers will find it more attractive and cheaper to invest in infrastructure projects as of tomorrow, 2 April 2016. The European Commission proposed an amendment to EU prudential rules, known as Solvency II, as part of the CMU Action Plan launched on 30 September 2015. This amendment to a delegated act under Solvency II was published today in the Official Journal and enters into force tomorrow, 2 April 2016. Jonathan Hill, Commissioner for Financial Services, Financial Stability and Capital Markets Union, said: “One of the goals of the CMU is to promote growth and jobs by knocking down barriers to investment. Insurers told us that some of the Solvency II-rules were putting them off investing in infrastructure. We have listened to what they said – as from today they will find it easier and more attractive to invest in European infrastructure projects. I hope they will take advantage of this change.” A press release is available online.