Topic: Solvency II

EU: Proposed Solvency II Rules will Severely Hamper Investment into Europe’s Securitisation Sector, According to Survey

A survey conducted by the Association for Financial Markets in Europe (AFME), and published on 11 April 2012, suggests that the proposed Solvency II rules will dramatically reduce the willingness of insurers to invest in securitisation assets. AFME suggests that this in turn will have a negative impact on economic recovery. 

Read More

EU: Solvency II Faces Possible Further Delay

On 12 January 2012, a vote by the Economic and Monetary Affairs Committee of the European Parliament on the Omnibus II Directive was delayed until 21 March 2012. When adopted, Omnibus II will make significant changes to the Solvency II Directive. The vote had previously been rescheduled from 20 December 2011 to 24 January 2012. 

Read More

UK: Insurers Given Chance to Early Adopt Solvency II

On 8 December 2011, Julian Adams, Director of Insurance at the Financial Services Authority (FSA), explained in a speech to the Association of British Insurers how UK (re)insurance companies may be permitted to start their Solvency II implementation as initially scheduled on 1 January 2013 rather than on the delayed implementation date of 1 January 2014. 

Read More

National Association of Insurance Commissioners States That the United States Will Gain Solvency II Equivalence

In a statement last week, Therese Vaughn, Chief Executive Officer of the National Association of Insurance Commissioners (the NAIC”), stated that the state-based regulatory system in the United States should be deemed equivalent to the Europe Union’s Solvency II regulatory process.  According to Vaughn, while the United States will not have a single set of rules like the European Union, the state-based works and has been tested by the recent financial crisis. 

Read More

UK: Solvency II Delay Likely

On 27 July 2011, the Economic and Monetary Affairs Committee of the European Parliament (the Committee) proposed in a draft report on Omnibus II (click here for a copy) that the Solvency II regime be introduced through a process of “phasing-in”, with (re)insurance undertakings not being required to comply in full until 1 January 2014. 

Read More




Email the Editor

Click here to Email the Editor

Locke Lord LLP

For the latest information about our Firm visit