Munich Re to Solvency II: Take 5

Munich Re backs five-year phase-in for Solvency II | Reuters.

Last week, CEIOPS hinted that S-II should be phased in, rather than have a big switch-over at 12/31/2011. Now Munich Re wants to up the ante.

Phase-in makes sense, as it feels to me like a lot of insurers were caught short with the technological and manpower requirements. This Accenture survey indicates that most insurers say it’ll cost more to implement S-II than they thought.




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