BoE’s Woods dismisses calls to weaken Solvency II reform
Deputy governor admits matching adjustment remains a “point of contention” with industry
The Bank of England’s Sam Woods has dismissed calls for the regulator to soften its proposed reform of the Solvency II insurance regulation.
Woods, head of the Prudential Regulation Authority, said on July 8 that the regulator agreed with the government’s objectives in the ongoing review of Solvency II, part of a wider post-Brexit overhaul of UK financial regulation. The changes aim to boost competitiveness, allow insurers to invest in long-term projects in the UK to support growth and improve
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