Solvency II seeks group supervision compromise to bridge divide

The Slovenian EU Presidency has narrowed the disputed areas of Solvency II to just two, putting even more pressure on member states to reach agreement on controversial group supervision proposals

Group supervision plans have proved to be something of a stumbling block in political negotiations following publication of the framework directive for Solvency II. While the concept of group supervision has been talked about for some time, the European Commission’s decision to make group supervision a centre piece for its Solvency II proposals left several member states uncomfortable with the pace of change in insurance regulation.