European legacy remains competitive and strong
Over the past decade, as the impact of Solvency II capital requirements has become evident, continental insurers have warmed to the solutions offered by legacy providers. The established legal frameworks, with UK Part VII transfers just one example, have aided the expansion of the sector. Legacy companies and their clients have also benefitted from regulators’ increased awareness of and familiarity with run-off. Growth is set to continue over the coming years, as the legacy sector has been far from static.