Solvency II reform plans get cautious industry backing

clock • 2 min read

Solvency II reforms to be introduced by the government have been broadly backed by the industry. This morning (23 September), UK chancellor Kwasi Kwarteng announced that, as part of its growth plan, the government would replace Solvency II regulations with "rules tailor made for the UK" in a bid to free up billions of pounds of investment. ABI director general Hannah Gurga said: "As the chancellor recognised, more can be done to unlock investment and the insurance and long-term savings industry has a vital role to play as institutional investors. "We have long called for regulatory...

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