Insurers are upset about the latest plans from Europe to delay Solvency II by a year, from the start of 2012 to early 2013.
Andrew Cox, Insurance partner at LCP said: "We are hearing from a number of our clients that they don't want Solvency II to be delayed. They have geared themselves up to meet the 2012 deadline. They believe that delays will only lead to more time being spent and higher costs without improving the outcome."
The delay has also irked Lloyd's.
Lloyd’s finance director Luke Savage told a briefing last week that 90% of agents surveyed agreed that the market should press ahead with the current timetable, under which the directive is due to be implemented on New Year’s Day 2013, and ignore the transitional measures being mooted.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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