Solvency II – Commission publishes draft directive

On 10 July the European Commission published a proposal for a framework directive on its Solvency II project. This note provides an overview of Solvency II and its implications for UK insurers.

Tim Goggin, partner, Lovells Email: tim.goggin@lovells.com

What is Solvency II?

Solvency II is a wholesale review by the EC of the prudential regulatory regime for European life and non-life insurers. The key objectives of the Solvency II project are to update the current European regime to: