UK insurance regulators seem to fear they are one crisis behind their banking counterparts.
In February, Andrew Bulley, head of life insurance at the Prudential Regulation Authority (PRA), compared parts of Solvency II to the Basel II rules for banks in a speech at the Investment and Life Assurance Association conference in London.
Over time, competitive pressure on insurers to free up capital could encourage a less conservative view of how much capital they need, he said. Insurance capital
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