EC proposes SII delay
The European Commissioner with responsibility for financial services has confirmed, as industry observers had long suspected, that Solvency II will almost certainly be delayed until 2013.
Michel Barnier told an audience of insurance professionals that the Commission would look to ease the pain of implementation by pushing the date back to coincide with the new financial year.
Barnier said: "As very few insurers end their financial year on 31 October, I wish to propose deferring the date of entry into...
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