ABSTRACT
Solvency II is the most significant regulatory change intervention the insurance industry has ever experienced. On the external front, consultation activities are still underway with key issues being debated with gusto at industry forums across Europe and in Brussels. In the UK, the integration of part of the FSA into the Bank of England has spelt change for the Internal Model approval process with timelines brought forward, impacting programme contingency plans. On the internal front, programmes are ramping up their efforts to ensure a successful outcome, and for some, this activity is being carried out in tandem with other significant organizational change. Every level of the organization will be impacted in one way or another by the new regime. This places a requirement on the leadership team for strong people-change management skills.
