The director general of the Association of British Insurers rounded off the ABI’s Solvency II conference in London by voicing his confidence that the end result was nigh, and that it would be a good outcome.
The ABI director general said: “We must look to the opportunities created by the new regime. While the delicate compromises continue to be made I am confident on the outcome”
Mr Thoreson also referenced an earlier comment made by MP Sajid Javid on Solvency II being the insurance industry’s version of the Godfather II movie.
He said he was happy with the government’s support and dedicated approach to getting things right for the UK industry, but added that Solvency II was more akin to another film, The Day after Tomorrow.
Mr Thoreson described the father-son sci fi film as an adventure characterised by massive destruction and climate change that eventually ends with “the storm clearing, the sun coming out and the future opening up in front of them”.