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Member, Beacon International Group, Ltd.
A.M. Best Co., in a new brief, said that the postponement of deadline for new Solvency Assessment and Management regime will create breathing space, especially for small and niche insurers, Finchannel.com reported.
As the major insurers have already taken measures to adopt the new regime, the delay is likely to result in higher costs.
Small and medium-sized insurers will become acquisition targets as they struggle to meet the new capital requirements, while dominant players are likely to expand their presence.