On September 25, 2015 we asked a deceptively simple question: “How many firms will fall under the scope of Solvency II?”. 1,516 words later we were able to conclude that there were: “4,800/5,300/5,600 insurers in Europe of which 3,600/4,200/4,320 will fall under the scope of Solvency II”.
The fuzziness is a result of number of factors including the method of counting and multiple definitions and data sources.
Today, Solvency II Wire can state with a lot more certainty that the number of Solvency II firms in Europe is much closer to 3,355.
The number is based on the aggregate figures published by each NCA. However, it cannot be considered as definitive because some NCAs are still to publish their figures.
Where information is unavailable we relied on data from the EIOPA register and figures compiled by Solvency II Wire Data. The chart below shows the distribution by country split between group and solo entities.
In any event the figure is unlikely to remain stable as the number of firms can change each year (and in some cases each quarter) due to market activity in the insurance industry.
One surprising statistic uncovered through the data research is that of the c. 2,200 SFCRs collected by Solvency II Wire Data to date, about 270 firms did not provide the QRT data (either missing or illegible).
A full list of Solvency II firms and data from over 1,600 QRTs is available to Solvency II Wire Data premium subscribers.
Further free information is available on the Solvency II Wire Data demo site (click here to register).