Lloyd's has given a positive spin to the latest Solvency II delay and highlighted the potential benefits, noting that regulators and policymakers can use the extra time to eliminate unnecessary elements and realign over-ambitious provisions in the regime.
Speaking at the Lloyd's insurance regulation conference
today (26 October), Lloyd's risk management director and
general counsel Sean McGovern urged the industry to use the
postponement to its advantage.
The directive's implementation date of 1 January 2014 was formally rendered unachievable earlier...
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