The implementation of Solvency II represented a huge change in the European insurance market. In this brief discussion paper, we analyze how companies' business choices have changed with the introduction of Solvency II, and whether the arrival of International Financial Reporting Standard 17 (IFRS 17) will result in similar changes. Our focus is on life insurance companies, with the following discussion points: 

• Has Solvency II changed the risk profile of companies?
• General considerations
• Have insurance products evolved with Solvency II?
• What can we learn from the experience of Solvency II?
• Impact of IFRS 17 on life insurance products