DAV calls for improvements to the crisis and resolution framework for insurers under the VSAAG

The German Association of Actuaries (DAV) welcomes the clear legal framework for crisis situations involving insurance companies set forth in the proposed insurance reorganization, resolution, and supervisory reform act (VSAAG). At the same time, the DAV warns against excessive alignment with the Bank Recovery and Resolution Directive, as well as against new regulations on burden sharing and line-of-business separation that would undermine competition and the proven structures of the German insurance market.