“Ministers should slash Brussels red tape in the insurance market to free up £95bn of capital to turbocharge Britain's green energy infrastructure drive, industry chiefs have said.
Bosses are calling for the Government to take advantage of Brexit by overhauling the EU’s Solvency 2 rulebook for UK firms, which forces insurers to hold vast sums of money in ultra-low risk assets.
A £95bn investment spree could be unleashed while still leaving the industry with enough reserves to withstand a one-in-200-year shock, according to a report by KPMG which was commissioned by the Association of British Insurers (ABI).
The cash could be used to support Prime Minister Boris Johnson's levelling up agenda, the ABI said, as well as providing funds vitals for the switch to wind power and electric cars.”
https://www.telegraph.co.uk/business...-say-insurers/
Evil EUSSR was trying to keep UK insurance companies solvent, this will not stand!
Bosses are calling for the Government to take advantage of Brexit by overhauling the EU’s Solvency 2 rulebook for UK firms, which forces insurers to hold vast sums of money in ultra-low risk assets.
A £95bn investment spree could be unleashed while still leaving the industry with enough reserves to withstand a one-in-200-year shock, according to a report by KPMG which was commissioned by the Association of British Insurers (ABI).
The cash could be used to support Prime Minister Boris Johnson's levelling up agenda, the ABI said, as well as providing funds vitals for the switch to wind power and electric cars.”
https://www.telegraph.co.uk/business...-say-insurers/
Evil EUSSR was trying to keep UK insurance companies solvent, this will not stand!
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