UK makes few changes to implementation of EU Reinsurance Directive

The UK’s implementation of the EU Reinsurance Directive will go ahead relatively unchanged since the Financial Services Authority (FSA) published its proposals in June this year. The FSA said responses to its plans had been positive and it is finalising changes to its handbook for October 2006 in time for the rules to take effect from the end of this year, one year ahead of the deadline set by the European Commission.