Lloyd's has given a positive spin to the likely Solvency II delay and highlighted the benefits of having extra time for regulators and policymakers to eliminate unnecessary elements and realign over-ambitious provisions.
Speaking at the Lloyd's insurance regulation conference on 26 October, Lloyd's risk management director and general counsel Sean McGovern urged the industry to use the probable postponement to its advantage.
The directive's implementation date of 1 January 2014 was formally rendered unrealistic earlier this month, when the European...
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