ABI: How will the implementation of Solvency II affect business?

Secure your place today at the ABI Solvency II Conference

NB: Contact organisers for times 

ABI Solvency II Conference – "Looking to the Future"

Thursday 31 October 2013 – The Grange Tower Bridge Hotel, 45 Prescot St, London E1 8GP

Click here to Register

For all enquiries email – abievents@abi.org.uk

‘Looking to the future’ to find out

One of the most crucial challenges facing the UK insurance industry – Solvency II – will be discussed at an ABI conference on 31 October at the Grange Tower Bridge Hotel, London. Keynote speakers will include Sajid Javid, MP, Financial Secretary to the Treasury.

‘Looking to the future’ will bring together insurers, politicians and regulators from UK, Europe and beyond to debate recent developments and what action is now required to ensure the successful completion of the new Solvency II regime and its implementation by the UK insurance industry.

Core themes which will be debated on the day include:

·         EIOPA’s recently released guidelines for the preparation of Solvency II, which are due to be implemented by national regulators from 1 January 2014 and cover the interim period leading up to full Solvency II implementation on 1 January 2016;

·         How Solvency II will lead to greater disclosure of information about business operations and what this means for the industry;

·         The expected agreement before the end of the year on the fundamental features of the Solvency II regime, including long-term guarantees and third-country equivalence; and

·         International developments on insurance capital standards.

Keynote Speakers are:

·         Sajid Javid, MP, Financial Secretary to the Treasury

·         Andy Briggs, Group Chief Executive, Friends Life Group

·         Raj Singh, Group Chief Risk Officer, Standard Life

·         Justin Wray, Head of Policy Unit, EIOPA

Other confirmed speakers include:
·         Sharon Bowles MEP

·         Jonathan Evans MP

·         Axel Wehling, German Insurance Association (GDV)

·         Bradley Kading, Association of Bermuda Insurers and Reinsurers

Otto Thoresen, Director General at the Association of British Insurers said:

“Solvency II represents the largest change to insurance regulation in a generation. Its potential impact cannot be under-estimated. I would encourage you to book your place today to ensure you are up to speed with the latest political and technical developments, as well as the progress that is being made towards implementation.”

The conference will include keynote speeches, panel discussions and breakout sessions on key aspects including: managing increased information requests under Solvency II, the importance of insurers’ roles as long-term investors and providers of retirement products, and the UK’s role as a force in global insurance markets.

Andy Briggs, Group Chief Executive at Friends Life and conference keynote speaker said:

“The insurance industry has a critical role to play in helping customers to make adequate provision for their financial future. My speech will explore the future shape of the market against a backdrop of what we have achieved so far in relation to Solvency II and what our focus should be going forward.”

There will be a number of varied and informative discussions throughout the thought-provoking day.

To register to attend the event and for further information please visit www.abi.org.uk.  Tickets are £199 ex VAT for ABI Members and £299 ex VAT for non-members.

– ENDS –

Notes for Editors

Enquiries to:

Lorna Wiltshire                     020 7216 7521 Mobile: 07725 245 288
Malcolm Tarling                   020 7216 7410 Mobile: 07776 147 667
Linsey White                        020 7216 7415 Mobile: 07885 998 011
Kelly Ostler-Coyle                020 7216 7375 Mobile: 07968 364 302

1.    The ABI is the voice of the UK’s insurance, investment and long-term savings industry. It has over 300 members, which together account for around 90% of premiums in the UK domestic market.

The ABI’s role is to:

–       Be the voice of the UK insurance industry, leading debate and speaking up for insurers.

–       Represent the UK insurance industry to government, regulators and policy makers in the UK, EU and internationally, driving effective public policy and regulation.

–       Advocate high standards of customer service within the industry and provide useful information to the public about insurance.

–       Promote the benefits of insurance to the government, regulators, policy makers and the public.

The UK insurance industry is the third largest in the world and the largest in Europe. It is a vital part of the UK economy, managing investments amounting to 26% of the UK’s net worth and contributing the fourth highest corporation tax of any sector. Employing over 290,000 people in the UK alone, the insurance industry is also one of this country’s major exporters, with 28% of its net premium income coming from overseas business.

Insurance and businesses protect themselves against the everyday risks they face, enabling people to own their own homes, travel overseas, provide for a financially secure future and run businesses. Insurance underpins a healthy and prosperous society, enabling businesses and individuals to thrive, safe in the knowledge that problems can be handled and risks carefully managed. Every day, our members pay out £147 million in benefits to pensioners and long-term savers as well as £60 million in general insurance claims.

2.        An ISDN line is available for broadcasts.

3.        More news and information from the ABI is available on our web site, www.abi.org.uk.

Lorna Wiltshire
Media Relations Officer
Operations (Communications)

T: 020 7216 7521
M: 07725245288
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