Friday, 1 July 2011

Solvency II and UK Treasury - Mark Hoban speech

Mark Hoban, Financial Secretary to the UK Treasury, spoke at the London 100 Group event yesterday.

He talsk of the "big ticket item" of Solvency II, and attempts to take some credit for the government's work with the industry on obtaining concessions regarding Matching Premium, as well as highlighting that the next few months are crucial for the ongoing debate (maybe an indication that, despite the handover of the EC presidency to a reportedly more pragmatic Poland today, that Omnibus II will not be getting off the EC table until Autumn).

He also emphasised that the UK Government have ruled that the outcomes of the Test Achats case will not be applied retrospectively.

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