Penny Black's Insurance Week - 7 November 2013

Speaking at an Association of British Insurers’ conference devoted to the oft-delayed capital-adequacy standards, Javid expressed the hope that, like the mobster-filled franchise, when Solvency II finally came into force folks would say the sequel trumped the original. He went on to hope that, unlike The Godfather’s mediocre third offering, there would be no further Solvency’s to contend with. Penny is heartbroken – she always thought Godfather III was the best. At the same event Penny was perusing a list of keynote speakers, and began to notice a disturbing trend.

One aforementioned MP, a representative from the European Insurance and Occupational Pensions Authority, ABI director general Otto Thoresen, of course, and two insurers – Standard Life and Friends Life. An interesting choice of line ups, Penny thought, coming shortly after the ABI announced it would be merging its general and pensions divisions. The move raised fears that GI firms would be pushed down the priority list, but Penny didn’t think it would happen quite so rapidly.

This article was published in the 7 November edition of Post magazine