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Europe: Property industry urges inclusion in Solvency II review

Posted on 13 December 2012

The European real estate industry has reiterated its call to the European Insurance and Occupational Pensions Authority (EIOPA) to include real estate in its upcoming review of the capital requirements for insurance companies under the proposed Solvency II Directive.
Non-listed funds body INREV and 12 other national and pan-European real estate associations are adamant that real estate should be included in the review. ‘Real estate is a major contributor to the European economy. Our industry accounted for 2.5% of total GDP in 2011 and it employs four million people. It would be negligent for EIOPA to ignore this important asset class,’ said Jeff Rupp, director of public affairs at INREV………………………………………..Full Article: Source


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