Solvency II timetable criticised

The highly pressured and politicised timetable to implement Solvency II has been criticised by a senior industry figure as having a potentially negative impact on the overall effectiveness of the directive when it eventually comes into force.

Speaking at the Life & Pensions Solvency II and risk conference in London on Wednesday, Patricia Plas, senior vice-president, public policy and regulatory affairs at Hague-based insurance group Aegon, said the major issue with Solvency II was one of timing.