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Solvency II is set to come into effect on January 1, 2014, but there has been a recent proposal to extend the deadline for Solvency II compliance by one year based on the UK's Financial Services Authority findings that many insurers have a lot to do before they reach the Solvency II standards. SAS sees the proposed extension as an opportunity to take a structured approach to the Solvency II transformation project. In this paper, SAS shares its insight into the challenges insurers are facing in the countdown to Solvency II and outlines the SAS® solutions that can help them to prepare.
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