The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill for COVID-19 claims. Britain …
The European Union’s capital rules for insurers need changing to reflect low interest rates and provide stronger intervention powers like banning dividends to preserve solvency during market shocks, the bloc’s insurance watchdog said on Thursday. The EU is reviewing its …
The European Commission is still waiting for Britain to say if it will diverge from European Union rules before Brussels can decide on UK financial market access, a spokesman for the EU executive body said on Tuesday. Daniel Ferrie, the …
Bermuda’s insurance market gains reciprocal status with the U.S. as of Jan. 1, 2020, something that industry and business groups there are celebrating as they countdown to the new year. Reciprocal status will make Bermuda on par with the U.S., …
Global insurance regulators will put off singling out insurers deemed so important to the financial system that they are required to hold extra capital, in a victory for companies such as American International Group and Prudential. The International Association of …
Chinese authorities said they will designate more financial institutions as systemically important, a sign that policy makers are stepping up crisis-prevention efforts as the nation’s debt burden and financial risks swell to unprecedented levels. Financial regulators led by China’s central …
Nigeria increased the minimum capital requirement for insurers by threefold, in a bid to expand their capacity to handle risk in Africa’s biggest oil producer. The National Insurance Commission requires the new levels of capital by Jan. 1, according to …
The Bank of England will not “go soft” on enforcing European Union capital rules for insurers, but will look at ways to make it easier for new entrants to boost competition in the industry, its deputy governor Sam Woods said …
Efforts to get insurers to plug Europe’s investment gap by backing riskier assets could be undermined if banks are unwilling to share crucial credit data with them, a European Union insurance regulator said. EU insurance capital rules known as Solvency …
EU capital rules for insurers need some tweaks but are not a deterrent to investment in infrastructure as some insurers’ claim, the Bank of England said on Wednesday. Officials from Aviva and Legal & General, two of Britain’s biggest insurers …
