Solvency II News

Rapid Shocks in Store for Insurers in New Bank of England Stress Tests

The Bank of England said on Tuesday it will check the health of general insurers in 2025 with a “stress test” that includes a rapid series of shocks, as sector capital rules are eased. Regulators have introduced stress tests since …

Bank of England Sets Out Reform of Insurance Capital Rules to Boost Investment

Britain set out plans on Thursday to ease key banking and insurance rules in the latest attempt to boost its vital financial sector following the country’s departure from the European Union. Brexit has cut off Britain’s finance industry, which accounts …

‘Talking Shops’ and Too Little Action Hamper City of London Reboot: Analysis

When London’s Lord Mayor called recently for the creation of a new council to lead reform of Britain’s flagging financial services sector, a deep sense of déjà vu eclipsed the City. For many, the proposal served as a reminder of …

Britain Must Not Damage Financial Services Sector Resilience: BoE’s Woods

Easing rules to boost the post-Brexit global competitiveness of Britain’s financial sector can only be done while maintaining a resilient financial system, Bank of England Deputy Governor Sam Woods said on Tuesday. The Bank of England was given a new …

Bank of England Tells UK to Hold Insurers to Account on Infrastructure Spending

The government should check that insurers are spending up to 100 billion pounds ($125 billion) on Britain’s economy after their capital rules were eased, Bank of England Deputy Governor Sam Woods said on Wednesday. Britain is rolling back capital rules …

City of London Calls for ‘Big Moves’ to Boost Post-Brexit Finance

The City of London called in a report on Thursday for a new council which would allow Britain’s financial sector to drive through “big moves” needed to boost the economy by 225 billion pounds ($281 billion) by 2030 and beyond. …

Legal & General’s CEO Says UK Must Speed Up Reforms to Lure Investors

The UK needs to accelerate reforms to help attract more investments, according to Legal & General Group Plc Chief Executive Officer Nigel Wilson. The Mansion House speeches on policy reforms in July have been very positive, but the government needs …

Bank of England Proposes Further Reforms to Insurers’ Capital Rules to Cut Red Tape

The Bank of England on Thursday proposed further reforms to capital rules for insurers in a step it said would cut red tape without lowering solvency standards. The Solvency II rules were inherited from the European Union and their reform …

Insurer Capital Rule Changes in UK to Start by End of 2023, Finance Ministry Says

Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to “Solvency II” capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be implemented by the end of this year. …

Investors Aviva, M&G Urge Britain to Press Ahead With Financial Reforms

Investors Aviva and M&G on Thursday joined calls for Britain to press ahead with financial reforms and give high-growth sectors such as technology companies more support to keep London’s markets competitive. Finance bosses have warned that the British capital risks …