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The preparations for Solvency II have required substantial investment of time, resources and money and there is no end in sight.
But what do insurers really think of Solvency II? Will all the effort, the frustrations and the headaches be worth it once the regime is in place? Will the benefits ultimately outweigh the costs and will the end justify the means?
In order to discover the answers to these questions, we undertook a survey of senior executives in the non-life insurance sector during September and October 2012. We asked them how prepared they are for the brave new world of Solvency II, what areas they still need to focus on, and how they view the new regime after so many years of effort.
Their answers make for fascinating reading.