Interesting that AM Best and Fitch have come out neutral after QIS5, with Fitch actively sponsoring restructuring in order to free-up capital with their public comments.
The FSA ponied up with their business plan for 2011-12. Preparation for a life less significant with the dual change of EIOPA being able to create BTS from 2013-ish as well as the coalitions plans for disbanding it. Strangely, not a lot about Sol II in the plan, which in this particular year seems odd, though they note that the increase in staff numbers has been done. They go for Special Project Fees of £34.3m for 2011/12 to be recovered from the industry.
On the other side of the pond, the Central Bank of Ireland have come out aggressively on the subject of poorly performing directors in the nationalised banks, reinforcing that the governance aspects of Sol II are very much in the here and now for UK and Irish corporates, regardless of the transitional periods mooted in Omnibus II.
An online repository for Solvency II, ERM and Corporate Governance material and comment from the Principal of Governance Matters, an independent Risk Consultancy firm based on the Isle of Man.
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