Hot topics: Solvency II
The Solvency II Directive (2009/138/EC) provides the framework for a new solvency and supervisory regime for insurers and reinsurers in the EU. It also consolidates, with some amendments, a number of previous insurance and reinsurance Directives. The Solvency II regime consists of the Solvency II Directive (as amended), together with a large number of delegated acts and binding technical standards (BTS), as well as guidelines. Member states had to transpose Solvency II by 31 March 2015, and firms had to implement it from 1 January 2016. This note tracks key ongoing developments at the EU level relating to Solvency II.