Ceiops prepares for busy 2009

Ceiops, insurance adviser to the European Commission, has set out its work plan for the next year. Between the delay for political agreement on the text of the Solvency II Directive and the financial crisis, Ceiops’ timetable was considerably disrupted during 2008. Writing in the committee’s annual report, Carlos Montalvo Rebuelta, Ceiops’ secretary general, said: “Our daily activities were re-directed, our planned future work re-framed and additional unplanned work constantly reflected in Ceiops’ evolving work programme.” He described last year as “fascinating” but he added that at times during the financial crisis the political and industry demands on supervisory authorities “appeared unsustainable”. But Mr Montalvo said member states worked together: “We learned from each other, discovering the true value of a Level 3 Committee”.