IE: Concerns raised about implementation of Solvency II

Most firms appear on track to implement the first two pillars of Solvency II. However, many firms have expressed concern that they will not have sufficient time to comply with the third pillar. The final version of the Quantitative Reporting Templates (QRTs) will not be adopted until September 2015 - just 4 months before the new regime comes into force. A survey conducted by Insurance Europe (IE) has found many insurers are concerned that this will not leave enough time to comply with the final QRTs.