Breakdown of Omnibus II negotiations piles pressure on Solvency II timetable
Negotiations to resume in September, but there are fears that deadlock will continue
The Solvency II implementation timetable came under further pressure after European policy-makers failed to agree a final version of the Omnibus II Directive at the end of last week.
Continued disagreement between member states over the package of measures to support long-term guarantee products prevented an agreement being reached in the trilogue negotiations between the European Parliament, Council and the European Commission.
Negotiations will now resume in September, following the summer
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