Deadline for implementation of Solvency II put back to 2012
The deadline for the implementation of Solvency II has been delayed by two years, according to media reports.
The regulation, an EU project which aims at creating a more risk-related solvency model, will now have an implementation deadline of 2012.
The announcement is alleged to have been made by Karel Van Hulle, head of insurance and pensions unit at the European Commission, at various conferences this week.
An official statement is expected to be made on 10 July when the road map for Solvency II, the Framework Directive, is due to be published.
