Group rules divide Europe

Solvency II political negotiations are finding it hard to please everyone

A core group of 12 member states are making a stand against the European Commission’s proposals for group supervision under the framework of the Solvency II directive. Speaking at an event hosted by the Association of British Insurers (ABI) in London recently, Karel van Hulle said the 12 member states have formed a “coalition of the non-willing” which is making it difficult for the European Parliament and Council to accept the Commission’s proposals without amendment.