MONTALVO, EIOPA: 2016, a far more credible Solvency II date

22 October 2012 — Mihaela CIRCU
MONTALVO, EIOPA: 2016, a far more credible Solvency II date
carlos_montalvo12016 is now a far more realistic and desirable new start date for the new Solvency II regime, said Carlos MONTALVO, the Executive Director of European Insurance Supervisor the European Insurance and Occupational Pensions Authority (EIOPA).

Speaking at the Guy CARPENTER Reinsurance Symposium yesterday (21 October), MONTALVO declared that the Solvency II process would be more likely to be resolved from 2016.

"We cannot afford another delay," MONTALVO stated, underlining that it would be far better to produce a realistic longer-range date that was less prone to being pushed back again.

MONTALVO's words underline those of EIOPA President Gabriel BERNARDINO, who said that under the best scenario Solvency II could start to be implemented either in 2015 or 2016, depending on the length of the legal and political process.

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