The introduction of new Europe-wide solvency standards for insurers will not be fully implemented until at least January 2014. This has been confirmed by local Insurance regulators.
Rather than coming into force next year as originally planned the Directive will be transposed into law by 1 January 2013 when the responsibilities of the European Insurance and Occupational Pensions Authority (EIOPA) take effect.
For more: Regulator confirms European solvency standards for insurers will be delayed until 2014
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