The article by Markus Huggenberger (I.VW-HSG) and Peter Albrecht (Universität Mannheim) titled «Risk pooling and solvency regulation: A policyholder’s perspective» was published in the Journal of Risk and Insurance. It investigates the benefits of risk pooling for the policyholders of stock insurance companies under different solvency standards. The authors find that larger risk pools are beneficial for policyholders under rather general conditions if the solvency capital is proportional to the premiums written. To the contrary, an increase in the pool size can reduce the policyholders’ utility if the solvency capital is based on the Value-at-Risk. For this case, the authors show that risk pooling generates benefits for policyholders if an excess tail risk condition is satisfied. The analysis provides new insights for the design of solvency standards and reveals a potential disadvantage of risk-based capital requirements.