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23rd of February 2012

Solvency II not delayed two years

Vicky Beckett 27/01/2012

Solvency II will not be delayed until 2016, contrary to what was reported yesterday.

In a preview article, due to be published today, the Financial Times Deutschland reported the rules may be introduced in 2015 instead of 2013 and take full effect in 2016 instead of 2014.

The economic and monetary commission were due to vote on Solvency II’s omnibus two, on January 24, but failed to do so.

Karel Van Hulle, the European Commission’s head of unit for insurance and pensions, told Captive Review: “I think that is clearly a statement that does not reflect reality.

“It insinuates that the failure of the economic and monetary commission to vote on omnibus two, this week, and assumes this automatically means it is delayed.

“We do regret there is a delay in the vote. The commission and the council will do everything we can to respect the deadline.

“It will be hard but I believe we can get there,” it added.

Tags: EIOPA, European Commission, Insurance, Karel van hulle, Solvency II

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Andrew 29/01/2012 11:38am

Karel's own response is less than definite, which suggests there is potentially some fire behind the smoke....

» Report this comment

Ruby 21/02/2012 9:25am

The blog is cool

» Report this comment

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