Newsletter June 2012: BRUSSELS – Exact timing of the implementation of Europe’s radical Solvency II insurance regime remains uncertain, but it seems that life insurers might get more time to adapt to the tougher rules.

Michel Barnier, who as internal market commissioner is the European Union’s top financial regulator, said in early June there is a major risk that necessary amendments to the Solvency II framework directive, which lays down the general principles of the regime, will not be made in time, that is before November 1 2012. The amendments must be adopted by the EU Parliament and Council of EU member states in order for the European Commission, the EU’s executive arm, to issue the so-called level 2 implementing measures that provide the details that will put technical flesh on the bones of the principles.