ABI reveals its preferred new discount rate framework
Trade body calls for break from linking to one investment asset and that a panel of experts be brought together to help set future rates.
The Association of British Insurers (ABI) has set out its plan for a new framework for setting the discount rate.
In February the Lord Chancellor reduced the rate from 2.5% to minus 0.75%, effective from March, in a move that provoked anger across the insurance market.
At the same time the government announced a review into how the rate should be set in the future.
The situation led to an emergency meeting between chancellor Phillip Hammond and a delegation of insurer CEOs.
The discount rate
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