EU considering 7-year Solvency II transition – reports
The EU could mitigate stricter capital rules for insurers by exempting all existing contracts from Solvency II regulations for seven years, according to the German business daily Financial Times Deutschland (FTD).
The newspaper reported on Tuesday that Brussels has been subject to heavy pressure from the industry and regulators to soften the directive's impact and was therefore considering the grace period.
The German Federal Financial Supervisory Authority has suggested a transition period of 10 years for existing contracts, according to...
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