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Lloyd's opposes SII transitional stage

Luke Savage

Lloyd's has criticised plans by the Committee of European Insurance and Occupational Pensions Supervisors to stagger implementation of the Solvency II directive beyond January 2013.

Ceiops mooted the plans at its conference last week but details of which aspects of the directive will be affected were not announced. Further details are expected to be released in June 2011.

Luke

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FCA and PRA turn spotlight on MGA oversight

The Financial Conduct Authority and Prudential Regulation Authority are sharpening their scrutiny of managing general agents, stressing insurers must take primary responsibility for businesses underwriting on their behalf.

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