A deal is needed on Omnibus II, even if it is not perfect
It is crunch time for Solvency II. As Insurance Risk went to press, European policy-makers had failed to reach agreement on the critical Omnibus II Directive after three months of heated negotiations.
With the summer recess looming, the pressure is on to agree a final version of Omnibus II before the MEPs return to their constituencies during the week of July 16.
The fear is that, if an agreement is not reached before the summer, the wider Solvency II implementation timetable could be disrupted
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