Solvency II Changes Still Years Away, EU Warns Insurers

Law360, London (November 19, 2019, 5:00 PM GMT) -- The European Union is unlikely to adopt proposed changes to the bloc's insurance capital requirements rulebook before the end of 2022, the head of the European Commission’s insurance and pensions unit said on Tuesday.

Didier Millerot set out the timeline for potential changes to the bloc’s four-year-old Solvency II Directive as he defended the European Insurance and Occupational Pensions Authority against accusations that its recent proposals had fallen short of the stated goal of simplifying the rules surrounding the Solvency regime.

“Proportionality and simplification are important themes,” Millerot said at a conference in Frankfurt organized by the authority. “It’s easy to say...

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