Ceiops proposals could increase op risk capital for insurers

LONDON - Insurance firms may need much more capital to cover operational risk if the latest proposals on new Basel II rules from the Committee of European Insurance and Occupational Pensions Supervisors (Ceiops) are adopted.

"If the proposals are implemented as they stand, they could result in a significant increase in the level of capital required to cover operational risk in 'wholesale' unit-linked life companies," the Association of British Insurers (ABI) says in its reply to a consultation

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