Solvency II negotiations approach deadline

The pressure for political agreement on Solvency II is increasing as the timetable shortens. The framework directive remains in limbo as the March/April 2009 deadline for agreement approaches. The Association of British Insurers (ABI) said five meetings have taken place between the European Parliament, Council and European Commission since January 2009 and although there has been agreement on over 100 articles of the draft directive, the most problematic issues remain unresolved.