On 11 March 2014, the European Parliament adopted the “Omnibus II” Directive for the supervision and regulation of the insurance industry. This directive completes and amends the Solvency II Directive that will be effective from 1 January 2016.

This is an important step in the implementation of the long-awaited comprehensive and risk-based supervisory regime aimed at improving the security and competitiveness of the insurance industry in Europe.

The formal press release from the European Commission can be accessed here:
http://europa.eu/rapid/press-release_STATEMENT-14-61_en.htm?locale=en

A direct link to the Omnibus Directive [PDF English - 160 kb]