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UK finance minister pledges to reform insurance capital rules quickly

06/28/2022 | 06:15am

LONDON (Reuters) - Britain's finance minister Rishi Sunak wants to reform capital rules for insurers "at pace" to seize post-Brexit opportunities, the finance ministry has said.

Sunak told insurance industry executives on Monday that reforming the so-called Solvency II rules would unlock tens of billions of pounds of investment.

"He also made clear that also that the aim is to deliver these ambitious reforms at pace, with our consultation closing on Thursday 21st July - but noted that they are complex in nature and the importance of getting these changes right," the ministry said in a statement on Tuesday.

(Reporting by Huw Jones, Editing by Louise Heavens)

© Reuters 2022
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