Solvency II work must be ready for 2010, EMB

Delays in approving the text of the framework directive for Solvency II at EU level should not deter insurers from developing their own Solvency II preparations, EMB has warned. Speaking at a briefing hosted by the International Underwriting Association, the actuarial firm said UK insurers must continue the development of internal models to calculate capital in order to meet the timetable for approval set by the Financial Services Authority.