Putting Solvency II into practice - FSA consults on Solvency II implementation in the UK

Putting Solvency II into practice - FSA consults on Solvency II implementation in the UK Adobe PDF Format

The first step involves creating a new Handbook that reflects the requirements of the Solvency II Directive. 

The Consultations include some welcome developments such as the confirmation that the concept of long-term fund will disappear under Solvency II and the relaxation of the ‘permitted links’ rules for unit-linked business.

There are a few areas where the Directive gives Member States policy options and the FSA is particularly interested in obtaining feedback on those specific areas of the consultation.

Here we discuss these latest developments, member state options and the FSA’s proposed response for the UK.