Aviva forecasts £25bn UK investment power boost from Solvency II reforms
The Association of British Insurers has backed the government’s Solvency II reform package which Chancellor Jeremy Hunt said will “unlock tens of billions of pounds of investment for our growth-enhancing industries”.
Hunt announced the publication of the government’s decision on Solvency II in his Autumn Statement to Parliament today.
The government consulted in April on a suite of measures and, when he was Chancellor, Prime Minister Rishi Sunak flagged in June that it wanted to overhaul the UK’s insurer solvency rules quickly.
The ABI said it welcomed the proposed reduction to the Risk Margin by 65% for life insurers and 30% for non-life insurers and was pleased to see proposals to broaden the asset and
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