EU seeks faster Solvency II compliance

Article reports that European insurers faced a squeeze on the amount of time they have to comply with the sector’s biggest regulatory shake-up yet, as the European Commission prepares to change the implementation timetable.

in April 2012 it was announced that the deadline for member states to enshrine the Solvency II regime into their national legal systems was to be pushed back by nine months to 30 June 2012.

But the Commission had left the deadline for companies to become compliant with the new rules – a wide-ranging overhaul of capital requirements and corporate governance – unchanged, at the start of January 2014.

ESO: Background information: Solvency http://www.europeansources.info/record/risk-management-and-supervision-of-insurance-companies-solvency-2/

ESO: Background information: Insurers welcome EU solvency deal / Insurance body cautious on solvency deal http://www.europeansources.info/record/insurers-welcome-eu-solvency-deal-insurance-body-cautious-on-solvency-deal/

Website: Insurance Europe http://www.insuranceeurope.eu/

Insurance Europe: Key issues: Solvency II http://www.insuranceeurope.eu/key-issues/solvency-ii

Website: European Insurance and Occupational Pensions Authority (EIOPA) https://eiopa.europa.eu/

EIOPA: Activities: Insurance: Solvency II https://eiopa.europa.eu/activities/insurance/solvency-ii/index.html

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