FSA relaxes Solvency II timetable

■ British regulators have given insurers more time to get ready for Europe’s strict new Solvency II capital regime, anticipating that fights over the final shape of the rules could delay their introduction by two years. The head of the FSA’s insurance unit Julian Adams said firms will have until the end of 2015, rather than 2013 as planned, to develop models to calculate their Solvency II capital requirements.