Banks ready with solutions for Solvency II
Despite the wide range of possible outcomes for Solvency II, banks are gearing up to construct solutions to the challenges posed by bringing in the directive. Mark Pengelly reports
Solvency II has been a long time in the making. And it may take even longer yet - a proposal on January 19 from the European Commission postpones its introduction until the beginning of 2013. Even after this date, various parts of the new risk-based capital regime for European insurers will be phased in, possibly over a period of several years. Despite the delay, Solvency II is already occupying the minds of some European insurers - and bankers are also taking a keen interest in the rules.
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