Solvency II: Data and Systems Readiness Lagging

The two-year delay in the implementing new regulatory requirements has helped European insurers’ confidence, Ernst & Young says, but almost 76 percent do not yet meet reporting requirements.

INN Breaking News, April 28, 2014

Chris McMahon

Nearly 80 percent of European insurers expect to meet Solvency II requirements, intended to codify and harmonize insurance regulations, before January 2016, according to Ernst & Young's “European Solvency II Survey 2014.” However, data and systems readiness are lagging, the consulting firm said.

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