FSA Expects UK Insurers To Meet Solvency II Requirements

Date : 06/22/2011 @ 12:57PM
Source : Dow Jones News
Stock : Admiral Group (ADM)
Quote : 1884.0  -9.0 (-0.48%) @ 12:35PM
Admiral share price Chart

FSA Expects UK Insurers To Meet Solvency II Requirements

Admiral (LSE:ADM)
Historical Stock Chart

5 Years : From Mar 2013 to Mar 2018

Click Here for more Admiral Charts.

The head of the U.K. Financial Services Authority said Wednesday that the regulator expects the country's insurers to meet the requirements of the Solvency II capital regime to be implemented across Europe in 2013.

"We expect the firms to be ready. Until the [European] Commission changes the deadline, we continue expect the firms to be ready before the deadline," FSA Chief Executive Hector Sants told a conference of the Association of British Insurers.

Sants also appeared to suggest that the government may give concessions to firms that would have difficulty in meeting the requirements.

"We won't say anything more than that. But I'll draw your attention to the fact that in previous directives, we have always been pragmatic and careful in how we respond to somebody not being ready for a legitimate and understandable reason," Sants said.

"I know that's slightly ambiguous," he said without elaborating.

-By Vladimir Guevarra, Dow Jones Newswires. Tel. +44 (0) 2078429486, vladimir.guevarra@dowjones.com

Your Recent History
Gulf Keyst..
FTSE 100
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:32 V:us D:20180322 19:39:19