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Initially expected to come into effect in January 2013, the new Solvency II directive will most probably be postponed to January 2014 following European Parliament vote of Omnibus II directive in spring 2012. Even if the directive is primarily aimed at insurance companies across Europe, the asset management industry will on one hand face some challenges regarding data management but could on the other hand have new opportunities in the scope of services offered to insurance companies.
Context
Solvency II calls for a common set of solvency regulations across Europe, including the enactment of new rules regarding the level of capital that European insurers must set aside to cover their combined risks on assets and liabilities. The directive is...
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