The financial world is in a regulatory fever. Following decades of heralded deregulation, the industry seems in need of guidance, to remind the actors of the consequences of cumulating ill-advised incentives and inadequate actions in a sector which increasingly shapes our society. Europe has been developing a new regulatory framework for the insurance and reinsurance industry, aimed at reinforcing the risk management of undertakings and promoting risk-sensitive supervision. Since the first discussions took place in early 2000, Solvency II has grown into one of the most ambitious legislative projects currently in the European Union (EU).