Gov't Says It Will Free Billions Of Pounds In Solvency Reform

By Martin Croucher (April 28, 2022, 10:31 AM BST) -- The government said Thursday it plans to free up tens of billions of pounds that insurers are holding under capital adequacy rules in a move to encourage wider investment in the economy after Britain left the European Union.

The reforms could "unlock tens of billions of pounds for long-term productive investments," the economic secretary to the Treasury has said. ( HM Treasury has published a long-awaited consultation on reform to the European Solvency II regime, promising a "material release" of cash for insurers while ensuring that policyholders continue to be protected.

The European Union regulation governs how much capital insurance companies are...

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