FSA to work with insurers to avoid costs from Solvency II delay
Commenting on the announcement yesterday that the Financial Services Authority plans to work with insurers to help them avoid costs from a 12 month delay to the introduction of Solvency II, Steven McEwan, of counsel in Hogan Lovells Financial Institutions Group, said many UK insurers will feel “relief”.
"Running the ICA model is a very resource-intensive process, and it would be an enormous strain if insurers were required at the same time to submit preparatory reports based on separate Solvency II
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