[adsanity id=1583064 align=aligncenter /] Sponsored by 3 July 2014, 16:00 – 18:00, Paris The meeting was attended by members of the following organisations: Fédération nationale de Mutualité Française (FNMF), Milliman, Societe Generale Corporate & Investment Banking, Standard & Poor’s. Chair: Gideon Benari, Editor, Solvency II Wire The Solvency II Wire Regular Meeting Group brings together a wide range of practitioners to discuss Solvency II and related matters. The following is a summary of the key discussion topics addressed at the meeting. — The meeting was underscored by a theme of continued preparation and growing momentum in Solvency II work, building on initial steps noted in April. One participant summed up the mood saying that for every new initiative they now asked, and were being asked, “How is it treated under Solvency II?” Participants noted that firms were starting to look at the practical implications of proportionality and were seeking clarifications from supervisors on the meaning of “best effort approach” specified for the interim period. The industry was also seeking an official closed simplifications list but, according to one participant, at this stage these decisions were likely to be taken at a national level with the local supervisor. Mutual insurers are continuing their cooperation in preparation work and it was noted that some mergers are likely, although these are not only due to Solvency II but are also linked to other local regulations and strong competition. Despite the overall drive forward, participants said that uncertainty remained about several aspects of the Directive and how supervisors would implement them. For example, mutuals are still facing lack of clarity in relation to the transposition of the rules on governance and group definition and there are still unanswered questions on some of the Long-Term Guarantees measures. But there was also a broad consensus around the table that there is now a clear general direction that makes the uncertainty more manageable and allows work to progress.