Solvency II - agreement on dampener, but group support is out

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The European Parliament conceded to virtually all of the European council of ministers' demands for the framework Solvency II directive by including the equity duration dampener and excluding group support.

The council's inclusion of the controversial duration-based equity dampener is expected to pass a vote on 22 April. The duration approach proposed by the French delegation, allows the charge for equities held against longer duration liabilities to vary with market volatility was welcomed by UK

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