NETHERLANDS - The Apeldoorn based Dutch insurance supervisory body, the Verzekeringskamer, has renamed itself the Pensioen & Verzekeringskamer or PVK in a move it says will better reflect the regulatory work it does across both the Dutch pensions and insurance industries.
The rebranding coincided with the official inauguration on Monday January 1 of new chairman Dirk Wittavaan, previously the director general for fiscal affairs at the Dutch ministry of finance.
Wittavaan replaces Arend Vermaat, who resigned the position to take up a part-time professorship with the University of Amsterdam.
Significantly the PVK has also recently circulated information to advisory parties involved in its work on the revision of Dutch actuarial principles (NAP), suggesting that the supervisory body may take longer than expected to complete its review - due to the complex nature of the issue.
Luc van Daalen , press officer at the PVK, comments: “ We have written to the parties involved to say that the first round of discussion is over and the real work is just starting.”
He indicated that the second round of dialogue could start in April, but that a result may be longer in coming.
“ There will be a revised agenda, but it will take a few years before we have anything concrete.”
Nico Obolonsky, secretary of the OPF Dutch association for company pension schemes, comments: “ Our report with the VB (association for industry-wide schemes) was one of the studies made in respect of the examination of actuarial principles by the PVK, looking at the dynamics of pension funds vis a vis insurance companies, for example, which are somewhat more static in their investment than pension funds.
“ The PVK got so many comments though – not only from us but from other parties - that they have delayed things. The promised follow up in September was not met and we recently received a letter indicating that they will come with a new timetable.
“ The general feeling is that as they have taken so long then presumably they have listened well to what the parties had to say.”
The PVK says the responses to its work will not be published.