Thursday, 21 July 2011

GCAE Minutes - "disappointing" delay

The Groupe Consultatif Solvency II working group pushed out their minutes for June (post-Omnibus II announcement). Interesting to see that they are disappointed with the "very probable" delay, as well as a conspicuously larger-text paragraph on how a lobbying point on calculating Life Technical Provisions has yet to be resolved to their satisfaction (and indeed looks like they will lose out on it).

Not sure who the victor is (EIOPA at a guess), as it is not completely clear who they are lobbying against on the "principle of market consistency"

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