Treasury Committee Challenges Regulators Over Solvency II

Insurance Day

"The UK House of Commons Treasury select committee has produced a report that provides a review of the Solvency II Directive and, specifically, its impact on the UK insurance industry. Solvency II has been in development since the start of the century and was finally implemented on January 1, 2016 as a harmonised framework across all EU member states. The most significant change was the transition from a principles-led approach to insurance regulation to a much more rules-based approach that, it is argued, offers less flexibility and restricts the ability of national regulators to be proactive regarding the unique insurance industry in their jurisdiction."

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David Kendall Partner, London
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