Solvency II
Top five European news stories
The top five stories from www.insuranceinsight.com over the past seven days,
Regulatory uncertainty raises domicile questions
Splitting tax domiciles and regulators could be an enticing prospect for insurance groups looking to avoid the European Union’s Solvency II regulations.
Top 5 European news stories
The top five stories from www.insuranceinsight.com over the past seven days.
PRA lobbies UK parliament for Solvency II probe
The head of the Prudential Regulation Authority, Andrew Bailey, has asked the British parliament to review Solvency II reforms he termed “lost in the detail and vastly expensive”.
Solvency II “ground to a halt” by national interest PRA boss says
Disagreement over the final Solvency II rules at a national level has seen negotiations “ground to a halt” according to Prudential Regulatory Authority boss Andrew Bailey.
UK Member of Parliament slams Solvency II
Andrew Tyrie, a Conservative MP and chairman of the Treasury Select Committee has slammed the confusion caused by Solvency II for the insurance industry.
Guernsey reaps rewards for SII non-equivalence
Guernsey’s decision not to be a part of EU’s Solvency II has strengthened the country’s captive insurance sector – making it the largest in Europe today, according to a report by Timetric.
German watchdog makes light of Solvency II delays
The postponement of Solvency II is not a major problem, according to Felix Hufeld, the head of German regulator BaFin’s Insurance Supervision Directorate.
Post Intelligence - company profile: Amlin
A key aspect of Amlin’s strategy is the focus on maintaining a balance between catastrophe and non-catastrophe exposures, as well as a broad spread of risk by geography and class.
Solvency II: worth the wait?
After many delays, Solvency II implementation is still far from certain. While some insurers have grown disillusioned by the process, others remain keen to see the directive’s benefits come to fruition.
KPMG names Smart UK insurance boss
KPMG has promoted its Solvency II boss to head up the total UK insurance practice.
Insurers miss opportunity to voice opinions on EU consultation on PPOs
The UK’s general insurance sector has failed to engage with a consultation on setting Solvency II liability rules, despite a European Union recommendation that 20% of the sector should contribute for the study to be credible.
Leader: Beyond a joke
“It is understood European decision makers are poised to broaden the scope of the Gender Directive – which has also impacted the setting of premiums in the life and annuities markets – to cover cats and dogs.”
Penny Black's insurance week
The newspapers have been full of events cancelled due to weather this week, so Penny was not surprised to hear that the insurance industry has been affected too.
Top 5 European news stories
The top 5 stories from www.insuranceinsight.com over the past seven days.
Eiopa chairman defends Solvency II guidelines
The chairman of the European Insurance and Occupational Pensions authority has defended its draft Solvency II guidelines as “an important step in the right direction that will help national authorities”.
Early implementation of SII elements 'burdensome' for UK firms
The European Insurance and Occupational Pensions Authority has published four consultation papers containing guidelines on the elements of Solvency II that it wants national supervisors implemented by national supervisors from 1 January 2014 on a "comply…
Eiopa begins consultation on Solvency II guidlines
The European Insurance and Occupational Pensions Authority today launched public a consultation on guidelines for Solvency II preparation.
E&Y welcomes long term financing consultation
Ernst & Young has joined Insurance Europe in welcoming the green paper on long-term investment issued by the European Commission yesterday.
GDV asks for relaxing of green investment rules
German insurers want regulators to ease rules restricting their ability to invest in renewable energy and infrastructure, according to trade body GDV.
Austrian lawyer annointed as Van Hulle successor
The European Commission has appointed Klaus Wiedner to replace Karel Van Hulle as head of unit dealing with pensions and insurance in the Internal Market Directorate General.
Insurance Europe airs concerns over Solvency II interim proposals
Trade body Insurance Europe has written to the European Insurance and Occupational Pensions Authority opposing the introduction of compulsory quantities reporting amid fears they may cause “unnecessary costs.”