Scottish Widows backs Solvency II reform

Scottish Widows has announced its support for a series of reform packages for the regulation of insurance companies in the UK under Solvency II. The reform packages intend to introduce a "simpler, clearer, and much more tailored regime" and cut the required risk margin significantly, with a 65% cut for long-term life insurance business. It also aims to increase investment flexibility by overhauling eligibility rules for the matching adjustments. In a meeting held by the provider today (1 December), Craig Thornton, chief investment officer at Scottish Widows, will discuss with the c...