06/05/2011 (Agence Europe) - Insurance industry worries about Solvency II. The stakeholders responding to a European Commission consultation exercise on the implementation measures of the EU Solvency II Directive (capital requirements for European insurance companies) have expressed concern about how the directive would affect the sale of long-term insurance contracts. They fear it would cause volatility in the pricing of assets, being pro-cyclical in nature. The industry is also concerned about the reporting requirements, the need for transition measures to ease the introduction of increased capital requirements and how the new EU rules would interact with non-EU rules, particularly those in the United States. The new implementation measures would come into force in the EU in January 2013. (M.B./transl.fl)