Reviewing European life insurance regulation: A marketing perspective

In 1988 the discussions about a Single European Market (SEM) in life insurance intensified. Because of the impetus the Single European Act (SEA) gave to the construction of the internal market in general, there was a greater emphasis on creating a single market in financial services. Streamlined policy-making processes and the enhancement of compromise and interaction between the Member States accompanied this on increasing and expanding issues. To identify these processes the paper surveys the literature regarding the European treaties, European decision-making procedures, and the use of European interest groups in the formulation of the Third Life Assurance Directive. Fundamentally, the paper argues that through economic and political incentives, there was a more concerted effort in the creation of a SEM in life insurance and that this creates new dynamics for the field of marketing.