Insurance Regulator Calls for Partial Solvency II by 2014
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The European Insurance and Occupational Pensions Authority said it will issue interim guidelines for national regulators and called for partial implementation of its planned European capital rules by 2014.
“Eiopa’s guidelines will ensure that important aspects of the new regime will be gradually implemented,” Gabriel Bernardino, chairman of the European Union agency in charge of drafting the so-called Solvency II risk-based capital rules, said in an e-mailed statement today. “This interim phase will allow supervisors and undertakings to be better prepared for the application of the new regulatory framework.”