Solvency II controversy takes centre stage

Concerns over the future of the Commission’s group supervision proposals, opposed by a core group of 12 member states, stole the limelight at the ABI’s Solvency II conference held in London recently

The concept of Solvency II has been around for years, but it is only now that there is a certain buzz about what it could mean for insurers. Whether this is due to the current political process that has whipped up a frenzy of negotiations and disagreements which could threaten the more forward-thinking aspects of the framework directive or whether it is down a genuine realisation that Solvency II is happening and could provide significant business benefits it is hard to say. Either way, there is a renewed energy about Solvency II, and particularly in “getting it right”.