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Norwegian insurers entry into Solvency II delayed
February 4, 2013 / 2:11 PM / 5 years ago

Norwegian insurers entry into Solvency II delayed

OSLO, Feb 4 (Reuters) - Norwegian insurers’ compliance with upcoming European solvency regulations will be delayed at least until Jan. 1, 2015, Norway’s financial watchdog Finanstilsynet, said on Monday.

Finanstilsynet said this was due to delays in negotiations on amendments to the Solvency II Directive through the so-called Omnibus II Directive.

“A revised schedule has not yet been approved, and it is uncertain when such a schedule will be available,” it said, adding that a delay beyond Jan. 1, 2015, could not be excluded.

Storebrand and Gjensidige are among Norway’s biggest insurers.

Reporting by Victoria Klesty

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