UK's Financial Services Authority Looking Into Solvency II Approach
October 03 2011 - 10:06AM
Dow Jones News
The U.K. Financial Services Authority said Monday it will look
into its approach to Solvency II, the Europe-wide capital regime
for insurers which appears under threat of being delayed by a year
to 2014.
"We are currently considering our approach, taking into account
industry feedback, our obligations as regulator and our work with
other member-state regulators. We will communicate our approach
shortly," a spokesman for the FSA told Dow Jones Newswires.
The comments come after the Financial Times reported earlier
Monday that the Association of British Insurers and the Lloyd's of
London insurance market have asked the FSA to push ahead with some
parts of Solvency II at the start of 2013.
The aim of starting in 2013 is to save U.K. insurers the cost of
having to run their old capital assessment models alongside the new
models developed for the incoming Solvency II regime.
-By Vladimir Guevarra, Dow Jones Newswires. Tel. +44 (0)
2078429486, vladimir.guevarra@dowjones.com
Admiral (LSE:ADM)
Historical Stock Chart
From Jun 2024 to Jul 2024
Admiral (LSE:ADM)
Historical Stock Chart
From Jul 2023 to Jul 2024