Memo: Statement by Commissioner Michel Barnier on the application date of Solvency II

Michel Barnier on 2 October 2013 put forward a draft Directive postponing the application date of the Solvency II Directive to 1 January 2016.

The Solvency II Directive, already adopted, creates a modern and risk-based prudential regime for insurance and reinsurance undertakings. National regulatory regimes for insurance, which vary greatly, are no longer able to guarantee an efficient internal market and prevent possible future crises.

ESO: Background information: Commission welcomes EIOPA report on Long-Term Guarantee Assessment for insurance sector http://www.europeansources.info/record/press-release-commission-welcomes-eiopa-report-on-long-term-guarantee-assessment-for-insurance-sector/

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