Solvency II
Leader: Beyond a joke
“It is understood European decision makers are poised to broaden the scope of the Gender Directive – which has also impacted the setting of premiums in the life and annuities markets – to cover cats and dogs.”
Penny Black's insurance week
The newspapers have been full of events cancelled due to weather this week, so Penny was not surprised to hear that the insurance industry has been affected too.
Top 5 European news stories
The top 5 stories from www.insuranceinsight.com over the past seven days.
Eiopa chairman defends Solvency II guidelines
The chairman of the European Insurance and Occupational Pensions authority has defended its draft Solvency II guidelines as “an important step in the right direction that will help national authorities”.
Early implementation of SII elements 'burdensome' for UK firms
The European Insurance and Occupational Pensions Authority has published four consultation papers containing guidelines on the elements of Solvency II that it wants national supervisors implemented by national supervisors from 1 January 2014 on a "comply…
Eiopa begins consultation on Solvency II guidlines
The European Insurance and Occupational Pensions Authority today launched public a consultation on guidelines for Solvency II preparation.
E&Y welcomes long term financing consultation
Ernst & Young has joined Insurance Europe in welcoming the green paper on long-term investment issued by the European Commission yesterday.
GDV asks for relaxing of green investment rules
German insurers want regulators to ease rules restricting their ability to invest in renewable energy and infrastructure, according to trade body GDV.
Austrian lawyer annointed as Van Hulle successor
The European Commission has appointed Klaus Wiedner to replace Karel Van Hulle as head of unit dealing with pensions and insurance in the Internal Market Directorate General.
Insurance Europe airs concerns over Solvency II interim proposals
Trade body Insurance Europe has written to the European Insurance and Occupational Pensions Authority opposing the introduction of compulsory quantities reporting amid fears they may cause “unnecessary costs.”
Jobs at risk as KPMG feels bite of Solvency II delays
Up to 40 actuarial jobs are at risk at KPMG as the accountancy giant feels the pain of uncertainty around the timeline for Solvency II coming into force.
SII interim measures could bring costs without benefits, warns Insurance Europe
Insurance Europe has raised concerns about the impact of interim measures in the wake of Solvency II delays, in a letter to the head of the European Insurance and Occupational Pensions Authority.
News review: British insurance staff could lose jobs
Staff at mortgage payment protection insurance provider British Insurance has been put on redundancy notice by the firm's parent company Towergate Insurance.
Insurer Arrow visits up 38% in 2012
Intensive regulatory inspections of insurers increased 38% last year according to figures from law firm Reynolds Porter Chamberlain.
Periodical Payment Orders: Unhappy New Year
Periodical payment orders gave motor insurers a headache in the renewals season as reinsurers struggled to come to terms with them.
Solvency II delay is "golden oppurtunity" to solve run-off issues
The delay in the implementation of Solvency II offers insurers a golden opportunity to deal with their outstanding run-off and US APH liabilities, according to Ruxley Ventures.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
KPMG criticises ‘disappointing’ lack of SII timetable
KPMG has branded the lack of a timetable for the implementation of Solvency II as ‘disappointing’, as the European Parliament vote to delay the vote of Omnibus II to 22 October 2013.
Solvency II compliance could move to 2016 following latest delay
The European Parliament plenary meeting to consider, and possibly approve, the Omnibus 2 amendments to the Solvency II directive has been moved back from 10 June to 22 October 2013.
Top five European news stories
The top five European news stories from www.insuranceinsight.com over the past seven days.
Bahrain woos international players with new takaful model
Bahrain’s insurance regulator hopes new regulations will make Bahrain the jurisdiction of choice for takaful and retakaful globally.
Insurance Europe publishes Solvency II helper tab
Insurance Europe has published a helper tab to assist insurance companies that are taking part in the technical assessment currently being run by the European Insurance and Occupational Pensions Authority.