September 14, 2023
The government should check that insurers are spending up to 100 billion pounds ($125 billion) on Britain’s economy after their capital rules were eased, Bank of England Deputy Governor Sam Woods said on Wednesday. Britain is rolling back capital rules …
May 17, 2019
Weakening rules for banks and insurers after Brexit would be “anathema,” but Britain could change its style of regulating to respond faster to change, Bank of England Deputy Governor Sam Woods said on Thursday. “So as far as the stringency …
July 26, 2018
The Bank of England is war-gaming with lenders and insurers for potential market turmoil on Brexit day. Sam Woods, the central bank’s top supervisor, said contingency planning for Britain’s withdrawal from the European Union will be similar to its preparations …
July 25, 2018
Fewer than 5,000 financial jobs might move out of Britain by “Day One” of Brexit and future relocations will depend on new trading terms with the European Union, Bank of England Deputy Governor Sam Woods said on Wednesday. “We have …
July 12, 2018
The Bank of England’s warning that Brexit threatens trillions of pounds of financial contracts is falling on deaf ears in Brussels. Valdis Dombrovskis, the European Union’s head of financial-services policy, dismissed an alert issued by BOE Governor Mark Carney, who …
February 27, 2018
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 …
August 30, 2017
Insurers in Britain face crunchtime within weeks if the government and the European Union do not allow millions of cross-border policies to continue to run undisturbed beyond Brexit. While Britain is not due to leave the bloc until March 2019, …
August 9, 2017
The Bank of England said a transition period after the Britain leaves the European Union would give banks more time to make orderly changes as Brexit poses risks to financial stability. With the UK due to leave the bloc in …
April 11, 2016
Sam Woods, a former U.K. Treasury official, was appointed as deputy governor for regulation at the Bank of England, replacing Andrew Bailey. Woods — who will continue as the central bank’s executive director of insurance until the end of June …
July 10, 2015
The Bank of England will issue its verdict in December on the models insurance companies use to quantify risk and determine capital requirements as the industry prepares for the new European Union rules known as Solvency II. “I consider it …