Rapporteur Balz on long-term guarantees, Solvency II's level 2 and global standards


It took European policy-makers quite a few years to reach a compromise on Omnibus II. They did so on November 13, after an eight-hour meeting, but neither they nor the insurance industry spent much time celebrating. The mood changed, as the political deal cleared the way for Solvency II to come into force in January 2016, but the road ahead remains full of potential hurdles and areas of uncertainty.

The first potential roadblock is the level 2 texts, the first unofficial draft of which is being

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