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Tilting the scales
QIS2 has highlighted some sharp divisions in the Solvency II framework, but with a draft proposal due out by next summer, is there enough time to resolve them?
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Elemer Tertak, director of financial institutions at the European Commission, is quite certain about what he wants to see from the new Solvency II initiative. "The new framework must strike a balance between policyholder protection on the one side and industry competitiveness on the other," Tertak told a gathering of European insurance firms at the Life & Pensions Solvency II conference in Brussels on 10 November.
It remains to be seen whether the precarious balance Tertak is hoping for can be
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