<p>This text is intended to discuss on the inconsistencies detected in the Colombian solvency regulation for insurers and reinsurers. For that purpose, it is indispensable for the reader to understand the principles upon which the insurers’ business model is founded and thus, to comprehend the need for a regime that refl ects in the best possible manner the risks facing the insurance industry. On the occasion of the recent entry into force of Solvency II directive in the European Union, an analysis of the historical evolution of the community regulation is used, having into account the global importance of the European insurance market and the tools established by this legal body aiming for the standardization of the solvency regimes at an international level. Next, the Colombian regime is compared in order to the European one to arrive to the conclusion that they are not equivalent, something that could bring unwanted consequences to the Colombian insurance industry.</p>