PRA says Solvency II needs to be changed to boost competition

By Alex Davidson (June 14, 2022, 3:58 p.m. BST) – A top financial regulator said on Tuesday that capital adequacy rules under the Solvency II regime are not working well enough in the UK and need to be changed to make the sector more competitive.

Charlotte Gerken, executive director of insurance at the Prudential Regulation Authority, said in a speech that the watchdog wants to remove barriers to insurers investing in productive assets, which can benefit the economy, to support their annuity payments or fixed sums of money each year. to investors.

Gerken told JP Morgan’s European Insurance Conference that the proposal was part of his contribution to the UK government’s post-Brexit…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!


About Nancy Owens

Check Also

Thousands of good A-level students will ‘miss out’ of college as competition for places grows

Rising demand for top university places could leave more than 10,000 school leavers without firm …