November 18, 2022
After years of fraught debate between regulators, insurers and the Treasury, Jeremy Hunt confirmed Thursday that the government would push forward with reforms to a corner of the City of London that’s intended to release billions of pounds of investment …
November 17, 2022
The British government and the Bank of England are reforming insurers’ capital rules, seen as a post-Brexit test of UK willingness to “unshackle” the City of London after leaving the European Union. Reform would potentially free up billions of pounds …
November 17, 2022
Bank of England Governor Andrew Bailey took the British government to task on Wednesday over its plan to give itself veto powers over post-Brexit financial rules written by independent regulators, including the central bank. Britain’s government has promised a deregulatory …
November 16, 2022
The UK government is close to an agreement with regulators over insurance capital reforms intended to release billions of pounds of investment into the economy. Jeremy Hunt, the Chancellor of the Exchequer, will announce the details as part of the …
November 14, 2022
The UK government is rushing to outline a proposed power to overrule the City of London’s financial regulators, as it tries to avoid accusations that the move is an attack on their independence. The power is due to be added …
September 22, 2021
The European Union proposed changing the bloc’s capital rules for insurers on Wednesday to release 120 billion euros ($141 billion) for repairing an economy hit by COVID and to meet climate goals without eroding policyholder protection. Britain, which is home …
December 17, 2020
The European Union’s capital rules for insurers need changing to reflect low interest rates and provide stronger intervention powers like banning dividends to preserve solvency during market shocks, the bloc’s insurance watchdog said on Thursday. The EU is reviewing its …
October 4, 2018
Randall & Quilter Investment Holdings Ltd. (R&Q) announced it has entered into an agreement to acquire Western Captive Insurance Company Designated Activity Company (WCIC) from the Coffey Group of companies in Ireland. WCIC is Coffey’s Irish-domiciled captive insurance company. The …
February 27, 2018
The Bank of England will not “go soft” on enforcing European Union capital rules for insurers, but will look at ways to make it easier for new entrants to boost competition in the industry, its deputy governor Sam Woods said …
October 17, 2013
Allianz SE’s CEO Michael Diekmann said tougher financial regulation will create takeover opportunities for Europe’s biggest insurer. “If Solvency II and Basel III mean more capital, then it’s hard for mutuals to get that,” Diekmann, 58, said in an interview …