FSA confirms delay of Solvency II implementation date for UK insurers
Financial Services Authority to extend internal model approval process by more than a year
The Financial Services Authority (FSA) has officially confirmed that it will not permit insurance companies to stick to an advanced schedule for the implementation of Solvency II, with full implementation now set for 2014.
According to the FSA’s statement, the UK regulator will be open to receive applications from March 30, 2012 from those firms that are currently in the pre-application phase. However, the application window will remain open after the former deadline of March 31, 2012. The FSA
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