As in previous years, the survey provides an assessment of how far the industry has progressed towards Solvency II, what is left to do and what lessons have been learnt. The results are, as ever, extremely enlightening and informative.
We have timed the survey to coincide with an important inflexion point for both regulators and insurers. After a long period of uncertainty, the final policy and timetable for Solvency II is stabilising. EIOPA’s Preparatory Guidelines come into effect from 1 January 2014 and the European Commission has proposed a Directive with 1 January 2016 as the full implementation date for Solvency II.
As insurers and regulators prepare to step up their Solvency II activity in response, there are some important points to note from our survey that should help inform this activity.
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