Brexit dims hopes for Solvency II change in UK
Lawyers say political tensions may have killed off chance of reform, following PRA U-turn
The Prudential Regulation Authority’s decision not to reform the Solvency II risk margin for insurers, because of Brexit negotiations, could mean the regulation will go unchanged on a permanent basis, according to legal experts.
“It’s certainly possible the risk margin in its current form could be here to stay. If the UK thought leaving it unchanged is a price worth paying, considering the benefits of a comprehensive [Brexit] deal, the PRA might accept that. I think it’s clear that Chancellor
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