FT: European insurers expect to meet Solvency II rules
08 December 2010
In a survey conducted by Accenture, 82% of European insurers said that they expected to meet the deadline by 2012, while 53% of respondents said they definitely would.
However, Munich Re, the German reinsurer, has called for companies to be given five years from 2012 to meet the new rules fully, while others have said they expect the rules to require further significant changes and testing before they can be implemented.
Karel van Hulle, Commission official reposible for insurance and pensions in Brussels, has insisted there will be no delay to the planned implementation of the rules at the start of 2013.
Insurance companies across Europe have just completed a full test run of the regime to help the European Commission understand how it will affect their capital requirements.
© Financial Times
