Insurers Seek Solvency Reform To Help Meet Green Targets

Law360, London (July 7, 2021, 4:13 PM BST) -- British insurers could plow an estimated £900 billion ($1.2 trillion) into green assets by 2035 if their capital is freed up by reform of the solvency regulation, a trade body said on Wednesday.

The Association of British Insurers said the sector could meet a third of the £2.7 trillion investments in energy and infrastructure that will be needed if the country is to hit its so-called net zero targets for carbon emissions by 2050.

But the association said that, if that is to happen, the U.K. government should amend aspects of the European Union's Solvency II Directive, which dictates how much capital...

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