Peter Vipond (Association of British Insurers head) is quoted in InsuranceERM today as supporting the FSA's "2013 regardless" stance for Solvency II implementation.
The logic is cold but impressive, as not only is the ICA process already onerous enough to dismiss any kind of parallel run, but the Internal Model application process has been structured to deliver concrete decisions on admissability by Jan 2013.
Certainly don't fancy the FSA's chances of getting a 2013 Solvency II "parallel run" levy out of the ABI based on this statement!
PS Shouldn't have access problems, the InsuranceERM guys made this one free!
An online repository for Solvency II, ERM and Corporate Governance material and comment from the Principal of Governance Matters, an independent Risk Consultancy firm based on the Isle of Man.
Showing posts with label timeline. Show all posts
Showing posts with label timeline. Show all posts
Friday, 24 June 2011
Wednesday, 22 June 2011
Solvency II - Official Shift to January 2014
Some guys were pretty quick off the mark in the Tweetosphere - Text out of the Council meetings over the last few days confirms a wish to shift to Jan 1st 2014 - implications will naturally emerge over the next couple of days, but in the meantime, you might want to adjust your calendars by 12 months (unless you are in the UK of course!)
Monday, 20 June 2011
Solvency II timeline changing - 2014 anyone?
Not sure who the moles are in either London or Brussels, but there appears to be some water-testing ongoing about a soft launch of Solvency II over the weekend, with the FT reporting that "people familiar to the process" have it chalked down for implementation in 2013, but not active until 2014.
I can't quite work out if there is some confusion over transitional measures already in Omnibus II just being regurgitated, or if they have a genuine sniff of a shift in timeline here.
They interestingly note that the French had previously asked for a 2013 launch, with a year's grace on Pillar 1, and that this had made it on to the table at the Commission.
[Apologies in advance if you cannot link through, some of these are subscription/limited access]
I can't quite work out if there is some confusion over transitional measures already in Omnibus II just being regurgitated, or if they have a genuine sniff of a shift in timeline here.
They interestingly note that the French had previously asked for a 2013 launch, with a year's grace on Pillar 1, and that this had made it on to the table at the Commission.
[Apologies in advance if you cannot link through, some of these are subscription/limited access]
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