Solvency II delayed for two months

Laura Miller
clock

Solvency II, the EU directive which will massively increase capital requirements for UK life companies, has been postponed for two months.

EU commissioner for financial services Michel Barnier said the European prudential framework will now be implemented by 31 December 2012, to align the rules to the financial year of most European insurance companies. Speaking in Brussels on Tuesday, Barnier played down fears Solvency II, which forces insurers to closely match the amount of capital they hold to the risk on their balance sheets, would force most insurance companies to turn to shareholders for cash. "We do not expect the entire European insurance industry to increase their capital by virtue of the changeover to Solvency ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Protection

PA360: 'The way we talk about protection has moved on'

PA360: 'The way we talk about protection has moved on'

Consumer Duty has increased interest from IFAs and wealth managers

Jenna Brown
clock 02 May 2025 • 4 min read
The return of redundancy cover – and why it's important

The return of redundancy cover – and why it's important

Standalone unemployment insurance is making a comeback

Kesh Thukaram
clock 02 April 2025 • 3 min read
PDG responds to FCA Pure Protection Market Study update

PDG responds to FCA Pure Protection Market Study update

Expanded terms of reference

Cameron Roberts
clock 31 March 2025 • 2 min read