Phase-in of Solvency II a threat to level playing field, warn insurers

Eiopa chairman's proposals 'a step backwards' in creating European solvency framework

Bumpy road

European insurers have warned that proposals by the chairman of the European Insurance and Occupational Pensions Authority (Eiopa), Gabriel Bernardino, to phase in elements of Solvency II could threaten the directive’s goal of introducing a harmonised supervisory regime.

At Eiopa’s annual conference on November 21, Bernardino suggested that elements of Solvency II should be implemented early because of the expected two-year delay to the full implementation of the rules.

“Even if a credible

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