Conservative concerns

Aaron Woolner

The first stage of the Solvency II directive was characterised by a period of political horse trading that resulted in the exclusion of group support and the inclusion of the equity duration principle, to the general consternation of the European insurance industry.

At the time, people told Life & Pensions that the logrolling behind these deals was an inevitable function of the level one issue being in the remit of the European Parliament. “The second level will be in the hands of the industry –

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