Tag Archives: Association of British Insurers

Bank of England defends implementation of Solvency II rules

The Bank of England has dealt a blow to UK insurers hoping for a quick fix to what they see as the most onerous aspects of EU capital requirements.

The insurance industry has been campaigning for a more lenient indexinterpretation of EU rules known as Solvency II. Some insurers have accused the central bank of “gold plating” the regulatory regime, which is supposed to be applied equally across the EU.

But in a speech to the Association of British Insurers on Tuesday, David Rule, the BoE’s head of insurance supervision, said its implementation of Solvency II had been “robust but proportionate” and played down the potential for immediate changes.

Continue Reading “Bank of England defends implementation of Solvency II rules” at Financial Times