Treasury on ‘mission’ to build ‘open and innovative regulatory environment’
The Treasury is looking to build an “open and innovative regulatory environment” in which UK insurers can thrive.
That was the message from Bim Afolami, the Economic Secretary to the Treasury, who addressed the Association of British Insurers annual conference on Solvency II and regulatory landscape yesterday (27 February).
Last year, the government proposed to reduce to the risk margin by 65% for life insurers and by 30% for non-life insurers. Aviva estimated the Solvency II reforms would unlock tens of billions of pounds of investment.
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