Solvency II was established as a direct response to the global financial crisis in 2008 in Europe with the underlying objective to harmonize regulations and strengthen the financial system to make it more resistent to shocks. Some of the features of Solvency II includes all of the following EXCEPT: a. New reporting and disclosure measures to enhance transparency and increase good corporate governance. b. The consistent valuation of assets and liabilities at market value. c. The introduction of a minimum capital requirement and a minimum fixed income reserve financial institutions should keep to minimize risk. d. The inclusion of three levels of capital including earnings surplus and common stock as tier 1..