After months of wrangling, European politicians have now reached an agreement on the implementation of Solvency II. Jeremy Irving, partner and insurance expert at Eversheds, comments:
“It remains to be seen whether Solvency II will have only those positive benefits for which its promulgators hoped. It is possible that it will have some consequences which are potentially adverse for European insureds, intermediaries and even insurers, especially with the forces at play in the global digital economy. However, for the time being at least, there is greater clarity on the process moving forward.” |
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