Pressure mounts for 2013 opt-in on Solvency II models
It looks increasingly likely that the full implementation of Solvency II will be delayed until 2014, but questions remain as to what is expected of firms in 2013
The UK Financial Services Authority’s (FSA) response to the proposals to delay Solvency II has raised more questions than it has answered, leaving the insurance industry still pushing for further clarity on how the regime will operate in 2013.
Over recent months it has become increasingly clear that Solvency II would be delayed for a year. From the European Parliament’s draft report on the Omnibus II directive in July to the European Council’s latest presidency compromise text published in
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