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12

Final Solvency II deadline Jan 2014, says Hoban

Open-access content Thursday 15th December 2011 — updated 5.13pm, Wednesday 29th April 2020

Insurers will be expected to fully comply with Solvency II by 1 January 2014, according to financial secretary to the Treasury, Mark Hoban MP...

2

Speaking at the Association of British Insurers' Solvency II conference on Thursday, the Fareham MP said there was "broad consensus" on the date.

"The likely effect will be that firms will be required to comply in full from 1 January 2014, potentially with some 'soft implementation' from early 2013.

"Our overarching aim will be to ensure that both the industry and the regulators have adequate time to prepare for implementation."

He added a key priority was to avoid further implementation delays.

 

Source: Postonline

This article appeared in our December 2011 issue of The Actuary .
Click here to view this issue

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Study reveals supply chain risks in China

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Swiss Re warns of low insurer profits for 2012

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