Council proposal on life morbidity insurance threatens compromise on long-term guarantees

European Parliament concerned about proposal which could derail negotiations on Ommibus II, warns Econ committee chair Bowles

Sharon Bowles
Sharon Bowles, European Parliament's Econ committee

An agreement on Omnibus II was prevented by a proposal from the Council of the European Union to extend the package of measures for life insurance contracts with long-term guarantees to other product lines.

The Council, supported by the European Commission (EC), wants to extend the package of measures, which include the matching adjustment, to life morbidity insurance products, such as medical insurance.

The move prevented an agreement being reached on Omnibus II before the European Parliament's

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