Delay to Solvency II rules moves a step closer

The proposal was included in the Committee of Economic and Monetary Affairs of the European Parliament’s draft report on Omnibus II on Thursday. It follows an identical recommendation made by the Council of the European Union last month. Experts agreed a delay would be helpful to insurers but said any change to the implementation date would be unlikely without the agreement of the European Parliament. Solvency II is a fundamental review of the capital adequacy regime for the European insurance industry. It aims to establish a revised set of EU-wide capital requirements and risk ...