News and Views

The Solvency II timetable explained

You will see from the timetable below that 2008 is a crucial and busy year for the Solvency II programme.

CEIOPS (the body consisting of regulators from all the participating countries) is  currently undertaking QIS4, focusing on the use of internal models & group issues to help CEIOPS properly measure the impact of the future regime on the industry.

Will the revised timetable hold? No one can be sure, of course, but there is agreement on one thing. Both CEIOPS and the European Commission are determined that there should be no further delays.

The ABI have published a new timetable that looks at the period between 2007 and 2009.

SOLVENCY II TIMETABLE

2007
February Final draft legislation
July European Commission Solvency II proposal published
Start of discussion by European Parliament

2008 Early Estimated date for incorporation into EU law
TBA Completion of details of new regulations
Adoption into national laws of participating states

2009
Implementation of proposals

2012
New regime begins