Insurers Applaud UK Plans To Amend EU's Solvency II Rules

Law360, London (February 13, 2020, 2:23 PM GMT) -- Insurers have endorsed plans by the Prudential Regulation Authority to review a controversial aspect of European Union rules on capital adequacy standards after the U.K. leaves the bloc's regulatory framework at the end of the year. 

The Association of British Insurers said Thursday that no longer being bound by EU regulations after Dec. 31 was a “real opportunity” to amend part of Solvency II that no longer worked as intended, because of interest rate changes. 

Sam Woods, the chief executive of the PRA, told a House of Lords committee on Wednesday that the authority was looking at a technical area of...

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