Solvency II date finally agreed

In talks on Wednesday evening, negotiators from the European Parliament, EU Commission and the Lithuanian Council agreed on a deal on the Omnibus II Directive governing elements, including the handling of long-term insurance liabilities. According to official rapporteur Burhard Balz, the terms agreed mean "comprehensive rules will remain manageable even for small and medium-sized insurers". There will be "exceptions for small businesses to ensure that the reporting burden is not out of hand", and "exceptions [that] include reporting during the year and the asset -by -asset reporting",...