UK Updates Capital Rules For Insurance Holding Firms
By Lucia Osborne-Crowley (September 7, 2021, 11:36 AM BST) -- The Bank of England has proposed new rules for determining which insurance holding companies will be subject to capital buffer rules, in a move to clarify the domestic regime in the aftermath of Britain's exit from the European Union.
The central bank said on Monday that the new guidelines will give a clearer definition of which insurance holdings companies will fall within its regulatory orbit under the bloc's Solvency II Directive. The legislative regime mandates how much cash businesses must have on hand to protect them from financial shocks.
The new rules will specify that any insurance holding company that has more...
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