Time running out for Omnibus II negotiations as latest trilogue fails to find agreement

Map of Europe

Negotiations to agree the final text of Omnibus II have been extended after European policy-makers failed to reach agreement this week on crucial issues such as the treatment of long-term guarantees in insurance contracts.

While there was some hope that a compromise agreement between European policy-makers can be reached within the coming days, the failure to reach an accord has stoked concerns that the implementation of Solvency II could be delayed.

Fears that the Solvency II timetable could be

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