UK regulators and industry back Solvency II reform

The ABI tackled the complex issue of Solvency II at a recent conference and found that there is strong agreement between regulators and industry, but still much more detail to be worked out before the European Commission publishes a draft directive in July 2007.

Regulators have been discussing Solvency II for insurance for two-and-a-half years but the outcome is still largely undecided and uncertain. Very few would argue against the fact that Solvency II is a complex project. It is technical, throws even more acronyms into the pot, and is sometimes controversial, but above all it is crucial for the development of insurance regulation.