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Insurance Ireland – KPMG European Insights Briefing 2020
October 28, 2020 @ 12:00 am
Date: Wednesday, 28 October
Time: 3.00 – 4.00 pm
Place: Virtual via Zoom
Insurance Ireland and KPMG, together with Tatyana Panova, European Commission take a deeper look into the regulatory and political dimensions of the new Capital Markets Union (CMU) Action Plan and the arising opportunities and challenges for the Irish insurance industry as the new European Commission launched a new Action Plan to re-boost the initiative on 24th September 2020.
The CMU was one of the major flagship projects of the Juncker-Commission. In September 2015 the European Commission launched an ambitious Action Plan with a number of initiatives aiming at creating a single capital market, improving cross-border investments, facilitating alternatives to bank-lending for SMEs and triggering consumer buy-in to capital markets.
Despite some progress on core initiatives, assessments of the success of the CMU lead to divergent results. Critics argue that the progress made was piece-meal and did not lead to a substantial integration of the European capital market. Furthermore, the scale of the improvement to EU capital markets was put at question.
The new ambitious plan presents 16 actions to further integrate the single market and develop a deeper capital market in the EU. The European Commission directly links its ambitions on the CMU to its political agenda. The CMU should not only integrate the market, but also fund the economic recovery of the EU and facilitate the transition towards a sustainable.
This is an Insurance Ireland member event. For queries please contact natalie.moran@insuranceirealnd.eu