“There are those who don’t know and those who don’t know they don’t know.” John Kenneth Galbraith
On 1st January 2013, a new directive regulating insurance companies which conduct business within the EU will come into effect. It is called Solvency II and unless you work in the insurance or the pension industry the chances are that you will never have heard of it before. I suggest you do your home work as this is important stuff. The indications are that the directive has already had a meaningful impact on bond markets and there could be a lot more to come over the next 24 months.
